Chord Energy (NASDAQ:CHRD) Shares Down 4.3% - Time to Sell?

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) shares dropped 4.3% during mid-day trading on Friday . The stock traded as low as $116.31 and last traded at $116.53. Approximately 147,067 shares traded hands during trading, a decline of 83% from the average daily volume of 890,578 shares. The stock had previously closed at $121.71.

Wall Street Analyst Weigh In

CHRD has been the subject of several research reports. BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Piper Sandler lifted their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Truist Financial reduced their target price 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. Wells Fargo & Company dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Siebert Williams Shank raised Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. 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. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $188.45.

Chord Energy Stock Performance

The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 4.91 and a beta of 0.96. The stock has a 50 day simple moving average of $129.22 and a two-hundred day simple moving average of $148.82. 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 - Get Free Report) last announced 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted $5.04 EPS. Chord Energy's quarterly revenue was up 33.4% compared to the same quarter last year. As a group, analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.27%. Chord Energy's dividend payout ratio (DPR) is 25.75%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHRD. Cetera Investment Advisers grew its position in shares of Chord Energy by 319.1% in the first quarter. Cetera Investment Advisers now owns 9,479 shares of the company's stock valued at $1,689,000 after purchasing an additional 7,217 shares during the period. Cetera Advisors LLC acquired a new position in shares of Chord Energy during the 1st quarter valued at about $444,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Chord Energy during the 1st quarter worth about $72,000. GAMMA Investing LLC boosted its position in shares of Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company's stock worth $53,000 after acquiring an additional 191 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Chord Energy by 172.1% in the second quarter. SG Americas Securities LLC now owns 12,755 shares of the company's stock valued at $2,139,000 after purchasing an additional 8,068 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.