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

Chord Energy Co. (NASDAQ:CHRD)’s share price hit a new 52-week low during trading on Thursday . The company 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.

Analysts Set New Price Targets

CHRD has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. Bank of America dropped their price objective on Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. 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. Finally, UBS Group cut their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $161.46.

Chord Energy Trading Down 12.4 %

The company’s 50 day moving average price is $110.85 and its two-hundred day moving average price is $120.81. The firm has a market cap of $5.92 billion, a PE ratio of 5.12, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.23%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Institutional Investors Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of CHRD. Altshuler Shaham Ltd bought a new position in Chord Energy in the 4th quarter valued at $25,000. Brooklyn Investment Group bought a new position in shares of Chord Energy in the fourth quarter worth about $29,000. Twin Tree Management LP bought a new stake in Chord Energy during the 4th quarter valued at about $33,000. Larson Financial Group LLC boosted its position in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after buying an additional 224 shares during the period. Finally, R Squared Ltd bought a new position in Chord Energy in the 4th quarter worth about $51,000. 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.