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 shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the transaction, the director directly owned 25,181 shares of the company’s stock, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $1.86 during mid-day trading on Monday, hitting $123.22. The company had a trading volume of 2,648,843 shares, compared to its average volume of 955,958. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $127.56. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 195.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $99.42 and its two-hundred day simple moving average is $97.54.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share 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 return on equity of 6.71% and a net margin of 0.91%.The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period last year, the company earned $3.49 earnings per share. As a group, equities research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company 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 $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Chord Energy by 17.1% during 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 valued at $13,973,000 after acquiring an additional 18,137 shares during the period. Focus Partners Wealth acquired a new stake in Chord Energy in the first quarter worth approximately $289,000. Envestnet Asset Management Inc. boosted its stake in Chord Energy by 8.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 89,732 shares of the company’s stock valued at $8,691,000 after purchasing an additional 6,748 shares in the last quarter. Assetmark Inc. increased its position in shares of Chord Energy by 7.3% during the 2nd quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock valued at $137,000 after purchasing an additional 96 shares during the period. Finally, Savant Capital LLC acquired a new position in shares of Chord Energy during the 2nd quarter valued at $3,484,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Citigroup boosted their price objective on Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings lowered Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Wells Fargo & Company lowered their target price on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 27th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $114.00 target price on shares of Chord Energy in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.91.

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.