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

Wolfe Research started coverage on shares of Chord Energy (NASDAQ:CHRD) in a research note published on Thursday morning, MarketBeat.com reports. The brokerage issued a peer perform rating on the stock.

CHRD has been the topic of several other reports. Piper Sandler lifted their price target on shares of Chord Energy from $233.00 to $234.00 and gave the stock an overweight rating in a research note on Thursday. Mizuho lifted their price target on shares of Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a research note on Monday, May 13th. Citigroup assumed coverage on shares of Chord Energy in a research note on Monday, July 1st. They set a buy rating and a $195.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Monday, April 29th. Finally, Bank of America reiterated a buy rating and set a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $211.11.

Chord Energy Price Performance

Chord Energy stock opened at $175.55 on Thursday. The stock has a market cap of $7.32 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.93 and a beta of 1.01. The company has a fifty day simple moving average of $173.30 and a 200-day simple moving average of $169.61. Chord Energy has a 12-month low of $147.40 and a 12-month high of $190.23. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.50 EPS. Equities analysts expect that Chord Energy will post 21.39 EPS for the current fiscal year.

Chord Energy Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Chord Energy in the first quarter valued at $31,000. Contravisory Investment Management Inc. boosted its holdings in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Chord Energy by 306.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after acquiring an additional 191 shares in the last quarter. 97.76% of the stock is currently 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.