Chord Energy (NASDAQ:CHRD) Reaches New 12-Month Low – Time to Sell?

Chord Energy Co. (NASDAQ:CHRD)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $125.01 and last traded at $125.01, with a volume of 2583 shares. The stock had previously closed at $128.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHRD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Truist Financial cut their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. UBS Group began coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Chord Energy Price Performance

The stock’s fifty day moving average price is $136.07 and its 200-day moving average price is $159.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 6.12, a price-to-earnings-growth ratio of 5.00 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.65 EPS. Equities research analysts predict that Chord Energy Co. will post 17.07 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.97%. Chord Energy’s dividend payout ratio is presently 24.27%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several large investors have recently modified their holdings of CHRD. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Chord Energy during the 1st quarter worth $296,000. State of Michigan Retirement System lifted its stake in shares of Chord Energy by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,100 shares of the company’s stock valued at $1,800,000 after buying an additional 200 shares during the period. State of Alaska Department of Revenue increased its stake in Chord Energy by 269.6% during the first quarter. State of Alaska Department of Revenue now owns 16,478 shares of the company’s stock valued at $2,936,000 after acquiring an additional 12,020 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Chord Energy by 18.4% during the 1st quarter. Retirement Systems of Alabama now owns 118,134 shares of the company’s stock worth $21,056,000 after purchasing an additional 18,335 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Chord Energy by 7.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,045 shares of the company’s stock worth $1,256,000 after purchasing an additional 514 shares during the period. 97.76% of the stock is 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.