Insider Selling: Chord Energy (NASDAQ:CHRD) EVP Sells $1,882,050.00 in Stock

Chord Energy Corporation (NASDAQ:CHRD) EVP Michael Lou sold 15,000 shares of the company’s 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 transaction, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. This represents a 15.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Chord Energy Trading Up 2.8%

NASDAQ:CHRD opened at $130.58 on Thursday. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $131.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The stock has a fifty day moving average price of $104.70 and a two-hundred day moving average price of $98.60. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 207.27 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last issued its 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. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business’s revenue was down 19.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.0%. Chord Energy’s payout ratio is currently 825.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its position in shares of Chord Energy by 213.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. World Investment Advisors acquired a new stake in Chord Energy during the 4th quarter valued at $408,000. Hsbc Holdings PLC increased its position in Chord Energy by 169.1% during the fourth quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock worth $15,138,000 after buying an additional 103,202 shares in the last quarter. Sankala Group LLC purchased a new position in Chord Energy during the fourth quarter worth $57,000. Finally, MidFirst Bank acquired a new position in shares of Chord Energy in the fourth quarter worth $115,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CHRD. Piper Sandler lifted 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. Zacks Research upgraded Chord Energy from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Morgan Stanley dropped their price objective on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. UBS Group lifted 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, Citigroup boosted their target price on Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $131.27.

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.