Chord Energy (NASDAQ:CHRD) Reaches New 52-Week Low – Should You Sell?

Chord Energy Co. (NASDAQ:CHRD) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $99.03 and last traded at $100.15, with a volume of 455365 shares. The stock had previously closed at $113.54.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHRD. UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Bank of America lowered their target price on Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $161.46.

Chord Energy Stock Down 12.4 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 5.12, a PEG ratio of 5.83 and a beta of 0.98. The business’s 50 day moving average is $110.85 and its 200 day moving average is $120.81.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.23%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is currently 32.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after purchasing an additional 394,372 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after buying an additional 619,021 shares during the period. State Street Corp boosted its stake in shares of Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after buying an additional 22,753 shares during the last quarter. Boston Partners grew its holdings in Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after acquiring an additional 115,215 shares during the period. Finally, Pacer Advisors Inc. raised its position in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after acquiring an additional 627,122 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.