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

Shares of Chord Energy Corporation (NASDAQ:CHRD) reached a new 52-week high during trading on Monday . The stock traded as high as $151.00 and last traded at $151.4080, with a volume of 259592 shares changing hands. The stock had previously closed at $148.39.

Analysts Set New Price Targets

CHRD has been the subject of several analyst reports. Williams Trading set a $189.00 price target on shares of Chord Energy in a research report on Monday, April 20th. Piper Sandler increased their price target on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Truist Financial decreased their price target on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Roth Mkm reissued a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Chord Energy in a research report on Friday, April 17th. Finally, Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $114.00 to $168.00 in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.15.

Chord Energy Trading Down 2.9%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of -128.04 and a beta of 0.52. The company’s fifty day moving average price is $136.38 and its 200-day moving average price is $110.31.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $4.04 earnings per share. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. On average, research analysts expect that Chord Energy Corporation will post 18.61 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s dividend payout ratio is -460.18%.

Insider Activity

In other news, EVP Michael H. Lou sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 33,203 shares of company stock valued at $4,197,995. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC acquired a new stake in Chord Energy during the 1st quarter valued at approximately $29,000. WealthCollab LLC lifted its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the period. Root Financial Partners LLC lifted its stake in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy during the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

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.