Chord Energy (NASDAQ:CHRD) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Chord Energy (NASDAQ:CHRD) in a research report released on Thursday morning, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

Several other brokerages also recently weighed in on CHRD. Truist Financial decreased their target price on shares of Chord Energy from $228.00 to $226.00 and set a buy rating for the company in a research note on Monday, June 3rd. Bank of America restated a buy rating and issued a $201.00 target price on shares of Chord Energy in a research note on Friday, June 14th. Mizuho upped their target price on shares of Chord Energy from $195.00 to $214.00 and gave the company a buy rating in a research note on Monday, May 13th. Piper Sandler increased their price objective on shares of Chord Energy from $233.00 to $234.00 and gave the company an overweight rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the company an outperform rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $211.11.

Chord Energy Price Performance

Chord Energy stock opened at $175.55 on Thursday. Chord Energy has a 52-week low of $147.40 and a 52-week high of $190.23. The firm has a fifty day moving average of $173.30 and a 200-day moving average of $169.61. The firm has a market capitalization of $7.32 billion, a P/E ratio of 8.24, a PEG ratio of 0.93 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.50 earnings per share. As a group, analysts predict that Chord Energy will post 21.39 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $2.94 dividend. This represents a $11.76 annualized dividend and a dividend yield of 6.70%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in Chord Energy in the 1st quarter valued at about $31,000. Contravisory Investment Management Inc. lifted its position in Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares during the last quarter. Lindbrook Capital LLC lifted its position in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after purchasing an additional 191 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.