Chord Energy (NASDAQ:CHRD) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Chord Energy (NASDAQ:CHRD) from a peer perform rating to an outperform rating in a research note released on Friday morning, MarketBeat Ratings reports. Wolfe Research currently has $155.00 target price on the stock.

A number of other research firms have also recently issued reports on CHRD. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. UBS Group cut their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Mizuho decreased their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $180.25.

Chord Energy Stock Up 1.7 %

CHRD stock opened at $120.95 on Friday. The company’s 50 day moving average is $122.86 and its 200 day moving average is $140.68. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $5.04 EPS. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. Sell-side analysts predict that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.13%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of hedge funds have recently modified their holdings of CHRD. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Chord Energy during the third quarter valued at approximately $26,000. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the 2nd quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in 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 buying an additional 136 shares in the last quarter. 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.