Chord Energy (NASDAQ:CHRD) Sets New 52-Week High – Here’s What Happened

Chord Energy Corporation (NASDAQ:CHRD)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $153.00 and last traded at $152.1760, with a volume of 69765 shares changing hands. The stock had previously closed at $147.83.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHRD. UBS Group upped their price target on Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Scotiabank boosted their target price on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Mizuho upgraded Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Citigroup cut their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.54.

Chord Energy Stock Up 2.7%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The business’s fifty day simple moving average is $128.42 and its two-hundred day simple moving average is $128.05. The company has a market cap of $8.31 billion, a PE ratio of 10.18 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $1.79 EPS. The business’s revenue for the quarter was up 128.6% compared to the same quarter last year. On average, analysts predict that Chord Energy Corporation will post 18.03 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.4%. Chord Energy’s dividend payout ratio (DPR) is 34.85%.

Insider Buying and Selling

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 10,705 shares in the company, valued at approximately $1,425,263.70. This represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Samantha Mckinney sold 2,200 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $136.32, for a total transaction of $299,904.00. Following the transaction, the director directly owned 17,030 shares in the company, valued at approximately $2,321,529.60. The trade was a 11.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 14,219 shares of company stock valued at $1,927,684. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Chord Energy

Several large investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the first quarter valued at approximately $29,000. Root Financial Partners LLC increased its holdings in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the last quarter. Finally, 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 in the last quarter. Hedge funds and other institutional investors 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.