Chord Energy (NASDAQ:CHRD) Stock Price Down 4.3% – Here’s What Happened

Chord Energy Co. (NASDAQ:CHRD) 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 changed hands during mid-day trading, a decline of 83% from the average daily volume of 890,578 shares. The stock had previously closed at $121.71.

Analysts Set New Price Targets

CHRD has been the topic of several recent research reports. Bank of America lifted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group initiated coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Piper Sandler raised their target price 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. Citigroup decreased their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm 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 firm’s fifty day moving average is $129.22 and its 200 day moving average is $148.82.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company had revenue of $1.12 billion for 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 business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.04 earnings per share. On average, analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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

Institutional Trading of Chord Energy

Institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Chord Energy in the third quarter valued at approximately $26,000. UMB Bank n.a. lifted its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in Chord Energy in the third quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the second quarter valued at approximately $40,000. 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.