Chord Energy (NASDAQ:CHRD) Reaches New 1-Year Low – Here’s Why

Chord Energy Co. (NASDAQ:CHRD) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $109.59 and last traded at $110.73, with a volume of 75507 shares traded. The stock had previously closed at $110.83.

Analysts Set New Price Targets

A number of research analysts recently commented on CHRD shares. Piper Sandler dropped their price target on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets dropped their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Two investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.55.

Chord Energy Stock Performance

The company has a fifty day moving average of $125.30 and a two-hundred day moving average of $143.82. 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 cap of $6.92 billion, a price-to-earnings ratio of 5.83, a P/E/G ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.04 earnings per share. Equities research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.42%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. Stone House Investment Management LLC acquired a new position in Chord Energy in the third quarter valued at $26,000. UMB Bank n.a. boosted its position in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in Chord Energy during the 3rd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the 2nd quarter worth about $40,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.