Chord Energy (NASDAQ:CHRD) Hits New 12-Month Low at $145.54

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

Analyst Ratings Changes

CHRD has been the topic of a number of research reports. Citigroup began coverage on shares of Chord Energy in a research report on Monday, July 1st. They set a “buy” rating and a $195.00 target price on the stock. Piper Sandler boosted their price target on shares of Chord Energy from $233.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Truist Financial lowered their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Wolfe Research began coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $210.78.

Chord Energy Stock Down 2.5 %

The firm has a market capitalization of $6.33 billion, a P/E ratio of 7.08, a PEG ratio of 0.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a 50 day moving average of $171.17 and a 200-day moving average of $170.42.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) 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 net margin of 22.67% and a return on equity of 16.57%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.50 earnings per share. Research analysts predict that Chord Energy Co. will post 20.85 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s payout ratio is currently 23.46%.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Chord Energy by 30.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,561 shares of the company’s stock valued at $592,000 after purchasing an additional 827 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Chord Energy during the 4th quarter worth $24,320,000. Mirae Asset Global Investments Co. Ltd. grew its position in Chord Energy by 239.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,043 shares of the company’s stock worth $10,646,000 after acquiring an additional 45,198 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Chord Energy by 12.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after acquiring an additional 53,992 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in Chord Energy by 0.6% during the fourth quarter. Miller Howard Investments Inc. NY now owns 27,558 shares of the company’s stock valued at $4,581,000 after purchasing an additional 166 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.