Chord Energy (NASDAQ:CHRD) Reaches New 52-Week Low – Here’s What Happened

Chord Energy Co. (NASDAQ:CHRD) hit a new 52-week low during trading on Monday . The stock 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHRD shares. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Mizuho decreased 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 note 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 research note on Monday, December 9th. Wells Fargo & Company decreased their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

Chord Energy Stock Up 1.0 %

The firm has a 50-day moving average of $119.30 and a two-hundred day moving average of $132.77. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.85 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98.

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 analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.04 earnings per share. Equities research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Delta Capital Management LLC lifted its position in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after buying an additional 90 shares during the last quarter. GAMMA Investing LLC boosted its stake in Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after acquiring an additional 97 shares in the last quarter. Commerce Bank boosted its stake in Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after acquiring an additional 98 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of 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 worth $3,552,000 after purchasing an additional 100 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.