Chord Energy (NASDAQ:CHRD) Rating Reiterated by Royal Bank of Canada

by · The Markets Daily

Royal Bank of Canada reaffirmed their outperform rating on shares of Chord Energy (NASDAQ:CHRD – Free Report) in a report issued on Friday morning, Benzinga reports. The firm currently has a $200.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. Bank of America increased their target price on Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a hold rating and a $160.00 price objective for the company. Citigroup dropped their target price on shares of Chord Energy from $195.00 to $180.00 and set a buy rating for the company in a research report on Monday, August 12th. Truist Financial dropped their price target on Chord Energy from $226.00 to $223.00 and set a buy rating for the company in a research note on Monday, July 22nd. Finally, Wolfe Research started coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a peer perform rating on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $202.10.

Check Out Our Latest Analysis on CHRD

Chord Energy Trading Up 0.3 %

Shares of NASDAQ:CHRD opened at $136.73 on Friday. Chord Energy has a 12-month low of $129.75 and a 12-month high of $190.23. The company has a market cap of $5.70 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The stock has a 50 day moving average of $152.80 and a 200 day moving average of $167.21. 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 (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the business earned $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts expect that Chord Energy will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares in the last quarter. Boston Partners increased its position in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the period. Millennium Management LLC raised its stake in shares of Chord Energy by 226.5% during the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after acquiring an additional 483,144 shares in the last quarter. Finally, KGH Ltd boosted its holdings in shares of Chord Energy by 872.0% in the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after purchasing an additional 435,998 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

(Get Free Report)

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.

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