Douglas Brooks Sells 1,500 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director directly owned 18,705 shares of the company’s stock, valued at $2,591,951.85. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Chord Energy Stock Up 1.4%

CHRD opened at $142.01 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The business has a 50 day simple moving average of $133.34 and a 200-day simple moving average of $108.40. The stock has a market capitalization of $8.00 billion, a P/E ratio of -125.67 and a beta of 0.52. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $150.50.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business posted $4.04 EPS. Chord Energy’s quarterly revenue was up 37.1% on a year-over-year basis. On average, equities analysts anticipate that Chord Energy Corporation will post 17.51 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CHRD. Royal Bank Of Canada dropped their price objective on 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 raised their price target on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Scotiabank raised their price target on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. UBS Group raised their price target on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group set a $99.00 price target on Chord Energy in a research report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.15.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. grew its position in shares of Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the first quarter valued at $29,000. WealthCollab LLC grew its position in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Quent Capital LLC purchased a new stake in shares of Chord Energy in the third quarter valued at $32,000. Finally, Root Financial Partners LLC grew its position in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.