Chord Energy (NASDAQ:CHRD) Sets New 1-Year Low at $142.06

Chord Energy Co. (NASDAQ:CHRD) hit a new 52-week low during trading on Tuesday . The company traded as low as $142.06 and last traded at $142.63, with a volume of 225526 shares trading hands. The stock had previously closed at $148.43.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Mizuho increased their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets began coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Bank of America upped their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $206.78.

Chord Energy Price Performance

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 stock has a market capitalization of $5.78 billion, a PE ratio of 6.51, a P/E/G ratio of 0.88 and a beta of 1.01. The firm’s 50 day simple moving average is $161.30 and its 200 day simple moving average is $169.52.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.65 EPS. As a group, equities analysts forecast that Chord Energy Co. will post 19.61 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.60%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRD. Rise Advisors LLC bought a new position in Chord Energy in the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the period. GAMMA Investing LLC increased its stake in Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in shares of Chord Energy in the second quarter worth about $60,000. Institutional investors 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.