Chord Energy (NASDAQ:CHRD) Reaches New 12-Month High – Still a Buy?

Chord Energy Corporation (NASDAQ:CHRD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $157.06 and last traded at $157.00, with a volume of 545298 shares changing hands. The stock had previously closed at $151.22.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Seaport Research Partners started coverage on shares of Chord Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Wells Fargo & Company increased their price target on shares of Chord Energy from $163.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Roth Capital restated a “buy” rating and set a $145.00 price target on shares of Chord Energy in a research report on Wednesday, July 15th. Finally, Mizuho raised shares of Chord Energy to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Chord Energy Stock Down 0.5%

The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $139.74 and a 200-day simple moving average of $134.79. The company has a market cap of $8.00 billion, a PE ratio of 9.80 and a beta of 0.50.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm’s quarterly revenue was up 128.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 earnings per share. Equities research analysts anticipate that Chord Energy Corporation will post 19.64 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s payout ratio is presently 34.85%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the transaction, the executive vice president directly owned 13,560 shares of the company’s stock, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,969 shares of company stock valued at $3,389,599. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after purchasing an additional 84 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Chord Energy by 3.6% during the second quarter. Concurrent Investment Advisors LLC now owns 3,514 shares of the company’s stock worth $402,000 after buying an additional 121 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Chord Energy by 16.6% in the second quarter. Allworth Financial LP now owns 1,189 shares of the company’s stock valued at $136,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.

The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.

Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.