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

Key Points

• Chord Energy hit a new 52-week high, trading as high as $148.87 (last at $149.46) on Monday, and carries a MarketBeat consensus rating of Moderate Buy with a $152.23 target price.
• The company beat the quarter's estimates with $1.28 EPS (vs. $1.17 expected) and $1.17B revenue (vs. $1.03B expected), but revenue was down 19.6% year‑over‑year and the stock trades at a lofty P/E of 236.9.
• Chord declared a $1.30 quarterly dividend (annualized $5.20, yield 3.5%) despite an extremely high payout ratio of 825.40%, while insiders sold roughly 23,927 shares (~$2.9M) recently and institutions own about 97.8% of the stock.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $148.87 and last traded at $149.4590, with a volume of 123816 shares trading hands. The stock had previously closed at $145.06.

Analyst Ratings Changes

Several brokerages recently weighed in on CHRD. Pickering Energy Partners downgraded shares of Chord Energy from an "outperform" rating to a "neutral" rating in a research note on Friday, January 9th. Wall Street Zen upgraded shares of Chord Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Williams Trading set a $189.00 price objective on Chord Energy in a research note on Monday, April 20th. Mizuho set a $148.00 target price on Chord Energy in a report on Friday, January 9th. Finally, Jefferies Financial Group set a $99.00 target price on Chord Energy in a research note on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.23.

Chord Energy Stock Up 2.9%

The firm's fifty day simple moving average is $129.08 and its 200 day simple moving average is $106.22. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 236.90 and a beta of 0.52. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. Chord Energy's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the business earned $3.49 EPS. Sell-side analysts predict that Chord Energy Corporation will post 16.94 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were given a $1.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.5%. Chord Energy's dividend payout ratio is 825.40%.

Insider Buying and Selling at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares of the company's stock, valued at approximately $1,013,960.86. The trade was a 35.92% 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, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company's stock, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,927 shares of company stock worth $2,912,028 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Chord Energy by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company's stock valued at $13,973,000 after purchasing an additional 18,137 shares in the last quarter. Focus Partners Wealth acquired a new position in Chord Energy during the first quarter worth $289,000. EverSource Wealth Advisors LLC raised its position in Chord Energy by 364.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company's stock worth $151,000 after acquiring an additional 1,220 shares in the last quarter. Jump Financial LLC acquired a new stake in Chord Energy in the second quarter valued at $1,010,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of Chord Energy by 108.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company's stock worth $1,010,000 after purchasing an additional 5,428 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.

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