Chord Energy (NASDAQ:CHRD) Reaches New 1-Year Low at $133.84

Chord Energy Co. (NASDAQ:CHRD) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $133.84 and last traded at $134.07, with a volume of 45117 shares changing hands. The stock had previously closed at $134.37.

Analyst Ratings Changes

Several analysts recently issued reports on CHRD shares. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research report on Thursday, September 5th. Piper Sandler dropped their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Price Performance

The stock has a fifty day moving average of $159.30 and a 200-day moving average of $168.93. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 6.20, a P/E/G ratio of 4.54 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter in the prior year, the firm posted $3.65 EPS. Chord Energy’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy Co. will post 19.61 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Large investors have recently bought and sold shares of the company. Kraematon Investment Advisors Inc. acquired a new stake in Chord Energy in the second quarter valued at $4,426,000. Capital Fund Management S.A. lifted its position in Chord Energy by 252.9% during the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after buying an additional 31,484 shares during the period. Sei Investments Co. lifted its position in Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Chord Energy by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,088 shares of the company’s stock worth $82,631,000 after buying an additional 14,616 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Chord Energy during the fourth quarter worth about $2,785,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.