Chord Energy (NASDAQ:CHRD) Hits New 12-Month Low – What’s Next?

Chord Energy Co. (NASDAQ:CHRD) hit a new 52-week low during trading on Tuesday . The company traded as low as $126.40 and last traded at $126.50, with a volume of 1143865 shares trading hands. The stock had previously closed at $132.37.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wolfe Research started coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Jefferies Financial Group initiated coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Finally, Truist Financial cut their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Trading Up 1.7 %

The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company’s 50 day simple moving average is $139.85 and its 200-day simple moving average is $162.65. The firm has a market cap of $5.44 billion, a P/E ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share 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 company had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter last year, the company earned $3.65 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, research analysts predict that Chord Energy Co. will post 17.93 earnings per share for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares during the period. UMB Bank n.a. increased its stake in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Rise Advisors LLC acquired a new position in Chord Energy in the 1st quarter worth about $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the second quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 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.