Chord Energy (NASDAQ:CHRD) Director Sells $255,715.28 in Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 2,126 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the sale, the director owned 25,181 shares in the company, valued at $3,028,770.68. The trade was a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Chord Energy Stock Up 4.8%

Shares of NASDAQ:CHRD opened at $124.80 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $101.22 and a two-hundred day simple moving average of $97.97. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $127.56. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 198.10 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.Chord Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. On average, research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 4.2%. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Wall Street Analyst Weigh In

CHRD has been the subject of several research analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a report on Friday, January 16th. Mizuho set a $148.00 price objective on shares of Chord Energy in a report on Friday, January 9th. Morgan Stanley reduced their price objective on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. UBS Group upped their price objective on Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in shares of Chord Energy by 169.1% during the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock worth $15,138,000 after purchasing an additional 103,202 shares during the last quarter. Sankala Group LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at about $57,000. MidFirst Bank acquired a new stake in shares of Chord Energy during the 4th quarter worth approximately $115,000. Invesco Ltd. raised its position in shares of Chord Energy by 23.6% in the fourth quarter. Invesco Ltd. now owns 318,448 shares of the company’s stock worth $29,520,000 after acquiring an additional 60,806 shares during the period. Finally, Alberta Investment Management Corp acquired a new position in Chord Energy in the 4th quarter worth about $1,381,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.