Chord Energy (NASDAQ:CHRD) Hits New 52-Week Low - Time to Sell?

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $99.03 and last traded at $100.15, with a volume of 455365 shares. The stock had previously closed at $113.54.

Analyst Ratings Changes

Several research analysts have issued reports on CHRD shares. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company cut their target price on Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $160.31.

Chord Energy Stock Performance

The stock has a market cap of $4.88 billion, a P/E ratio of 4.22, a PEG ratio of 5.83 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company's 50-day simple moving average is $107.82 and its 200 day simple moving average is $119.11.

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Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a $1.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 6.34%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's payout ratio is currently 32.62%.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in shares of Chord Energy by 115.4% in the 1st quarter. Parallel Advisors LLC now owns 2,137 shares of the company's stock worth $241,000 after buying an additional 1,145 shares during the last quarter. GAMMA Investing LLC boosted its stake in Chord Energy by 31,910.5% in the first quarter. GAMMA Investing LLC now owns 81,947 shares of the company's stock valued at $9,237,000 after acquiring an additional 81,691 shares during the last quarter. 111 Capital bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $461,000. Ascent Group LLC increased its stake in shares of Chord Energy by 11.1% during the 4th quarter. Ascent Group LLC now owns 17,300 shares of the company's stock worth $2,023,000 after purchasing an additional 1,731 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $2,197,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.