Chord Energy (NASDAQ:CHRD) Hits New 52-Week Low Following Analyst Downgrade

Chord Energy Co. (NASDAQ:CHRD) shares hit a new 52-week low during mid-day trading on Monday after Mizuho lowered their price target on the stock from $192.00 to $178.00. Mizuho currently has an outperform rating on the stock. Chord Energy traded as low as $115.92 and last traded at $116.31, with a volume of 425199 shares changing hands. The stock had previously closed at $119.28.

A number of other analysts have also weighed in on the stock. 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 for the company. Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial cut their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, UBS Group lowered their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $184.55.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Bank of Montreal Can grew its stake in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after purchasing an additional 52,835 shares in the last quarter. Foundry Partners LLC increased its position in Chord Energy by 22.7% in the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after purchasing an additional 9,613 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Chord Energy during the 2nd quarter worth about $2,515,000. Finally, Kore Advisors LP purchased a new stake in shares of Chord Energy during the 3rd quarter worth about $4,428,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 2.6 %

The company has a fifty day moving average price of $127.45 and a 200-day moving average price of $146.03. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.04 earnings per share. On average, equities research analysts predict that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

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.