Chord Energy (NASDAQ:CHRD) Trading Down 6.5% – Here’s Why

Shares of Chord Energy Corporation (NASDAQ:CHRD) traded down 6.5% during trading on Monday . The company traded as low as $87.55 and last traded at $88.4850. 256,305 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 447,256 shares. The stock had previously closed at $94.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CHRD shares. Piper Sandler dropped their price target on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Chord Energy in a report on Monday, October 6th. William Blair assumed coverage on Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating on the stock. Morgan Stanley set a $123.00 price target on Chord Energy in a report on Thursday, November 20th. Finally, Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $136.92.

Chord Energy Stock Down 1.4%

The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 7.70 and a beta of 0.92. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $92.16 and its two-hundred day moving average is $98.64.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business posted $3.40 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 5.9%. Chord Energy’s dividend payout ratio is presently 200.00%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the transaction, the director owned 17,706 shares of the company’s stock, valued at $1,513,863. The trade was a 7.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bayforest Capital Ltd acquired a new stake in Chord Energy during the second quarter worth approximately $28,000. WealthCollab LLC lifted its position in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the period. Quent Capital LLC acquired a new stake in Chord Energy in the 3rd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Chord Energy during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.