Chord Energy (NASDAQ:CHRD) Hits New 52-Week Low – Should You Sell?

Chord Energy Co. (NASDAQ:CHRD)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $123.22 and last traded at $123.23, with a volume of 267738 shares traded. The stock had previously closed at $127.48.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Citigroup reduced their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their price objective on shares of 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, 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. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Price Performance

The company’s 50-day simple moving average is $129.49 and its 200 day simple moving average is $149.49. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 5.12 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

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

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 462.9% during the 3rd 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 period. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the third quarter valued at approximately $26,000. UMB Bank n.a. grew its stake in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of Chord Energy in the third quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the second quarter worth $40,000. 97.76% of the stock is owned by institutional investors and hedge funds.

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.