Chord Energy (NASDAQ:CHRD) Sets New 12-Month Low - Time to Sell?

Chord Energy Co. (NASDAQ:CHRD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.80 and last traded at $82.03, with a volume of 1470571 shares traded. The stock had previously closed at $86.02.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America decreased their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Royal Bank of Canada lowered their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $157.62.

Chord Energy Price Performance

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 stock has a market cap of $5.33 billion, a price-to-earnings ratio of 4.62, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a 50 day simple moving average of $106.10 and a 200-day simple moving average of $117.95.

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Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 5.80%. Chord Energy's payout ratio is presently 32.62%.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Chord Energy during the 4th quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Chord Energy during the 4th quarter worth $29,000. Twin Tree Management LP acquired a new position in Chord Energy during the 4th quarter worth about $33,000. Larson Financial Group LLC grew its position in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Chord Energy in the fourth quarter valued at about $51,000. Institutional investors own 97.76% of the company's stock.

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.