Chord Energy (NASDAQ:CHRD) Sets New 12-Month 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 $109.59 and last traded at $110.73, with a volume of 75507 shares trading hands. The stock had previously closed at $110.83.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CHRD. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. BMO Capital Markets cut their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler lowered their target price on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reduced their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Two 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Trading Up 0.2 %

The company has a fifty day simple moving average of $125.72 and a two-hundred day simple moving average of $144.22. The stock has a market capitalization of $6.79 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. 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 (NASDAQ:CHRD) last released its quarterly earnings data 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $5.04 EPS. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated 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 directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Commerce Bank raised its holdings in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares in the last quarter. New York State Teachers Retirement System boosted its position in Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. grew its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC increased its position in shares of Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.