Chord Energy (NASDAQ:CHRD) Sets New 12-Month Low After Analyst Downgrade

Chord Energy Co. (NASDAQ:CHRD)’s stock price reached a new 52-week low on Monday after Mizuho lowered their price target on the stock from $192.00 to $178.00. Mizuho currently has an outperform rating on the stock. Chord Energy traded as low as $115.92 and last traded at $116.31, with a volume of 425199 shares trading hands. The stock had previously closed at $119.28.

A number of other equities analysts have also recently weighed in on the company. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. BMO Capital Markets decreased their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Truist Financial cut their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $184.55.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Chord Energy during the 3rd quarter valued at approximately $26,000. UMB Bank n.a. grew its stake 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 buying an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the second quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in 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 buying an additional 136 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 2.6 %

The firm’s fifty day moving average price is $127.45 and its 200-day moving average price is $146.03. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the company posted $5.04 EPS. On average, equities analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced 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. This represents a $5.00 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

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.