Chord Energy (NASDAQ:CHRD) Reaches New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

CHRD has been the topic of several research analyst reports. Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho lowered their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. UBS Group cut their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company decreased their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Trading Down 1.0 %

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 stock has a market capitalization of $6.81 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. The stock has a 50-day moving average price of $120.01 and a two-hundred day moving average price of $133.67.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data 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). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.04 earnings per share. On average, research analysts forecast that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.49%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the business. FMR LLC raised its stake in Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after buying an additional 74,165 shares during the last quarter. State Street Corp boosted its stake in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. increased its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after buying an additional 627,122 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 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.