Chord Energy (NASDAQ:CHRD) Sets New 52-Week Low – Here’s What Happened

Chord Energy Co. (NASDAQ:CHRD) reached a new 52-week low during trading on Monday . The stock traded as low as $109.44 and last traded at $111.74, with a volume of 139898 shares traded. The stock had previously closed at $112.45.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Morgan Stanley initiated coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler cut their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America reiterated a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Price Performance

The firm’s fifty day simple moving average is $120.01 and its two-hundred day simple moving average is $133.67. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.81 billion, a PE ratio of 5.72, a P/E/G ratio of 5.67 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $5.04 EPS. The company’s quarterly revenue was up 33.4% on a year-over-year basis. As a group, research analysts expect that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.49%. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC grew its position in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after acquiring an additional 473 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Chord Energy by 34.7% in the 4th quarter. Sanctuary Advisors LLC now owns 6,926 shares of the company’s stock worth $801,000 after purchasing an additional 1,785 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Chord Energy by 30.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after purchasing an additional 172,196 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in Chord Energy during the 4th quarter valued at $602,000. Finally, Portfolio Design Labs LLC lifted its position in Chord Energy by 32.6% in the fourth quarter. Portfolio Design Labs LLC now owns 29,175 shares of the company’s stock worth $3,411,000 after buying an additional 7,165 shares during the last quarter. 97.76% of the stock is 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.