Chord Energy (NASDAQ:CHRD) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Chord Energy (NASDAQ:CHRD) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $168.00 price target on the stock.

Other analysts have also recently issued reports about the company. Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler boosted their target price on Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company reduced their price target on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Wolfe Research started coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Chord Energy Stock Performance

Shares of CHRD stock opened at $129.98 on Wednesday. The company’s fifty day moving average price is $139.02 and its 200-day moving average price is $161.97. The stock has a market cap of $5.42 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 5.06 and a beta of 0.97. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy has a 12 month low of $126.38 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business earned $3.65 earnings per share. On average, equities analysts expect that Chord Energy will post 17.32 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is presently 23.46%.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in CHRD. Fortem Financial Group LLC boosted its stake in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after buying an additional 91 shares during the last quarter. GAMMA Investing LLC boosted its position in Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after purchasing an additional 97 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Chord Energy by 2.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after purchasing an additional 145 shares during the period. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.