Chord Energy (NASDAQ:CHRD) Hits New 12-Month High – Should You Buy?

Chord Energy Corporation (NASDAQ:CHRD) shares 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 trading hands. The stock had previously closed at $147.83.

Analyst Ratings Changes

Several research firms recently commented on CHRD. UBS Group raised their price target on shares of Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Truist Financial lowered their price objective on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Mizuho raised shares of Chord Energy to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.54.

Chord Energy Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $8.09 billion, a P/E ratio of 9.91 and a beta of 0.48. The firm’s fifty day moving average price is $128.98 and its 200 day moving average price is $128.53.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.62 billion. During the same period in the previous year, the company posted $1.79 EPS. Chord Energy’s revenue for the quarter was up 128.6% on a year-over-year basis. Sell-side analysts expect that Chord Energy Corporation will post 18.61 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. Chord Energy’s payout ratio is 34.85%.

Insiders Place Their Bets

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the sale, the director owned 10,705 shares of the company’s stock, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $299,904.00. Following the sale, the director directly owned 17,030 shares in the company, valued at $2,321,529.60. This trade represents a 11.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,219 shares of company stock worth $1,927,684 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Chord Energy by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Chord Energy during the first quarter valued at about $289,000. EverSource Wealth Advisors LLC lifted its position in shares of Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after buying an additional 1,220 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Chord Energy in the 2nd quarter valued at about $1,010,000. Finally, Gamco Investors INC. ET AL grew its position in shares of Chord Energy by 108.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after buying an additional 5,428 shares during the last quarter. 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.