Chord Energy (NASDAQ:CHRD) Sets New 1-Year Low on Analyst Downgrade

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) shares hit a new 52-week low during trading 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. The stock had previously closed at $119.28.

A number of other analysts also recently issued reports on CHRD. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a "hold" rating and a $160.00 price objective for the company. Piper Sandler lifted their price target on shares of Chord Energy from $211.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. BMO Capital Markets dropped 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. Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $184.55.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares of the company's stock, valued at $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company's stock.

Institutional Trading of Chord Energy

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in shares of Chord Energy by 72.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,434 shares of the company's stock worth $3,631,000 after acquiring an additional 11,527 shares during the last quarter. Synovus Financial Corp increased its stake in Chord Energy by 14.9% in the 3rd quarter. Synovus Financial Corp now owns 5,869 shares of the company's stock worth $764,000 after purchasing an additional 761 shares during the period. Sanctuary Advisors LLC lifted its position in Chord Energy by 21.0% in the third quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company's stock valued at $691,000 after purchasing an additional 892 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Chord Energy by 11.7% during the third quarter. TCW Group Inc. now owns 33,540 shares of the company's stock valued at $4,368,000 after purchasing an additional 3,500 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in shares of Chord Energy by 18.3% in the third quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company's stock worth $212,000 after buying an additional 252 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Down 2.6 %

The firm has a market cap of $7.10 billion, a PE ratio of 5.98, a PEG ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company's 50-day simple moving average is $127.45 and its two-hundred day simple moving average is $146.03.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the business earned $5.04 EPS. The company's revenue for the quarter was up 33.4% compared to the same quarter last year. On average, analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

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.