Chord Energy (NASDAQ:CHRD) Hits New 1-Year High at $165.14

Chord Energy Co. (NASDAQ:CHRD)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $165.14 and last traded at $164.79, with a volume of 267339 shares changing hands. The stock had previously closed at $161.50.

Analyst Ratings Changes

A number of equities research analysts have commented on CHRD shares. Truist Financial reduced their target price on Chord Energy from $247.00 to $221.00 and set a “buy” rating for the company in a report on Monday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Chord Energy in a report on Wednesday, August 23rd. BMO Capital Markets started coverage on Chord Energy in a report on Thursday. They issued an “outperform” rating and a $185.00 target price for the company. Stifel Nicolaus raised their target price on Chord Energy from $177.00 to $178.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Piper Sandler cut their price target on Chord Energy from $204.00 to $202.00 in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.44.

Chord Energy Trading Up 2.6 %

The stock has a market cap of $6.88 billion, a PE ratio of 4.05, a PEG ratio of 0.43 and a beta of 1.28. The business has a 50-day moving average of $155.16 and a 200 day moving average of $145.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.31). The company had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $677.85 million. Chord Energy had a return on equity of 19.07% and a net margin of 44.17%. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.30 EPS. Equities research analysts predict that Chord Energy Co. will post 18.91 EPS for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 12.22%.

Insider Buying and Selling

In other Chord Energy news, CFO Michael H. Lou sold 7,632 shares of Chord Energy stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $161.26, for a total value of $1,230,736.32. Following the completion of the sale, the chief financial officer now owns 186,235 shares in the company, valued at approximately $30,032,256.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chord Energy news, COO Charles J. Rimer sold 7,259 shares of Chord Energy stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $160.03, for a total value of $1,161,657.77. Following the completion of the sale, the chief operating officer now owns 97,514 shares in the company, valued at approximately $15,605,165.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael H. Lou sold 7,632 shares of Chord Energy stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $161.26, for a total value of $1,230,736.32. Following the completion of the sale, the chief financial officer now owns 186,235 shares of the company’s stock, valued at approximately $30,032,256.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,132 shares of company stock worth $4,279,950. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Chord Energy by 87.5% in the 2nd quarter. Signaturefd LLC now owns 180 shares of the company’s stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in shares of Chord Energy by 1.5% in the 2nd quarter. Insight Wealth Strategies LLC now owns 6,446 shares of the company’s stock valued at $991,000 after purchasing an additional 95 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Chord Energy by 17.1% in the 2nd quarter. Parallel Advisors LLC now owns 711 shares of the company’s stock valued at $109,000 after purchasing an additional 104 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Chord Energy by 34.9% in the 2nd quarter. Fifth Third Bancorp now owns 456 shares of the company’s stock valued at $70,000 after purchasing an additional 118 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in shares of Chord Energy by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 7,557 shares of the company’s stock valued at $1,017,000 after purchasing an additional 126 shares in the last quarter. 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. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.