Chord Energy (NASDAQ:CHRD) Reaches New 12-Month Low – Should You Sell?

Chord Energy Co. (NASDAQ:CHRD)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $126.40 and last traded at $126.50, with a volume of 1143865 shares traded. The stock had previously closed at $132.37.

Analyst Ratings Changes

CHRD has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets lowered their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Citigroup cut their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Finally, Truist Financial reduced their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $192.90.

Chord Energy Price Performance

The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 4.92 and a beta of 0.97. The company has a fifty day simple moving average of $140.88 and a 200 day simple moving average of $163.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.65 earnings per share. Equities research analysts forecast that Chord Energy Co. will post 17.93 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. Shareholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. UMB Bank n.a. boosted its holdings in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Chord Energy in the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the second quarter valued at about $40,000. Finally, 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 valued at $41,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds 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.