Chord Energy (NASDAQ:CHRD) Sets New 12-Month Low at $128.68

Chord Energy Co. (NASDAQ:CHRD) shares hit a new 52-week low on Thursday . The stock traded as low as $128.68 and last traded at $129.51, with a volume of 138023 shares trading hands. The stock had previously closed at $132.82.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent analyst reports. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. BMO Capital Markets started coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Truist Financial dropped their price objective on shares of 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, Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Stock Down 3.0 %

The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a fifty day moving average of $150.31 and a two-hundred day moving average of $166.60.

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). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the firm posted $3.65 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Co. will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.88%. Chord Energy’s payout ratio is currently 23.46%.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kraematon Investment Advisors Inc. bought a new position in Chord Energy in the 2nd quarter valued at about $4,426,000. Capital Fund Management S.A. boosted its position in shares of Chord Energy by 252.9% during the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after buying an additional 31,484 shares during the last quarter. Sei Investments Co. boosted its position in shares of Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after buying an additional 27,903 shares during the last quarter. Quantbot Technologies LP bought a new stake in Chord Energy during the first quarter worth $884,000. Finally, BOKF NA raised its position in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after buying an additional 14,601 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

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.