Chord Energy (NASDAQ:CHRD) Reaches New 12-Month Low at $145.35

Chord Energy Co. (NASDAQ:CHRD)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $145.35 and last traded at $146.69, with a volume of 52967 shares. The stock had previously closed at $147.19.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CHRD shares. BMO Capital Markets started coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Citigroup reduced their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Truist Financial decreased their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Piper Sandler cut their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.78.

Chord Energy Trading Up 1.5 %

The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.92 and a beta of 1.01. The company has a 50-day moving average price of $163.11 and a 200 day moving average price of $169.88.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.65 earnings per share. As a group, research analysts anticipate that Chord Energy Co. will post 20.85 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.35%. Chord Energy’s dividend payout ratio is presently 23.46%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Boston Partners raised its holdings in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after purchasing an additional 483,144 shares during the last quarter. Finally, KGH Ltd raised its holdings in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after buying an additional 435,998 shares in 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.