Chord Energy (NASDAQ:CHRD) Reaches New 52-Week Low at $145.54

Chord Energy Co. (NASDAQ:CHRD)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $145.54 and last traded at $147.77, with a volume of 37647 shares. The stock had previously closed at $155.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Piper Sandler upped their price target on Chord Energy from $233.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Truist Financial cut their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Citigroup began coverage on Chord Energy in a research report on Monday, July 1st. They issued a “buy” rating and a $195.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $210.78.

Chord Energy Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The company has a fifty day simple moving average of $169.99 and a two-hundred day simple moving average of $170.44.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.35. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. Chord Energy’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.50 earnings per share. On average, equities research analysts anticipate that Chord Energy Co. will post 20.85 earnings per share for the current fiscal year.

Institutional Trading of Chord Energy

A number of large investors have recently made changes to their positions in CHRD. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Boston Partners boosted its stake in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after acquiring an additional 674,965 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after acquiring an additional 165,196 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Chord Energy by 40.5% during the first quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock valued at $93,525,000 after acquiring an additional 151,218 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after acquiring an additional 138,957 shares during the last quarter. 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.