Chord Energy (NASDAQ:CHRD) Hits New 52-Week Low – What’s Next?

Chord Energy Co. (NASDAQ:CHRD)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $109.44 and last traded at $111.74, with a volume of 139898 shares traded. The stock had previously closed at $112.45.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHRD. Royal Bank of Canada decreased their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Bank of America reiterated a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler decreased their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Three 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.08.

Chord Energy Stock Up 1.0 %

The company’s fifty day simple moving average is $119.30 and its 200-day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm 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 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.04 earnings per share. On average, analysts forecast that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.46%. Chord Energy’s payout ratio is presently 25.75%.

Insider Transactions at Chord Energy

In related 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 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 $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after buying an additional 74,165 shares during the last quarter. State Street Corp boosted its position in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Pacer Advisors Inc. grew its position in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after acquiring an additional 34,156 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.