Insider Selling: Chord Energy (NASDAQ:CHRD) COO Sells $186,257.72 in Stock

Chord Energy Corporation (NASDAQ:CHRD) COO Darrin Henke sold 1,276 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Chord Energy Price Performance

NASDAQ CHRD opened at $145.55 on Thursday. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of -128.81 and a beta of 0.52. The company has a 50-day moving average price of $136.83 and a two-hundred day moving average price of $110.70.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business’s revenue was up 37.1% on a year-over-year basis. During the same period last year, the firm posted $4.04 earnings per share. Analysts forecast that Chord Energy Corporation will post 19.11 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Chord Energy by 8.4% during the first quarter. Bank of America Corp DE now owns 238,068 shares of the company’s stock valued at $33,849,000 after purchasing an additional 18,399 shares during the last quarter. California State Teachers Retirement System lifted its stake in Chord Energy by 22.9% during the first quarter. California State Teachers Retirement System now owns 66,864 shares of the company’s stock valued at $9,507,000 after purchasing an additional 12,442 shares during the last quarter. Royal Bank of Canada lifted its stake in Chord Energy by 119.3% during the first quarter. Royal Bank of Canada now owns 36,579 shares of the company’s stock valued at $5,202,000 after purchasing an additional 19,896 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Chord Energy by 68.7% during the first quarter. Quantinno Capital Management LP now owns 31,889 shares of the company’s stock valued at $4,534,000 after purchasing an additional 12,983 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in Chord Energy during the first quarter valued at approximately $1,059,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHRD shares. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Scotiabank increased their price objective on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Truist Financial decreased their price objective on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 8th. UBS Group increased their price objective on shares of Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Roth Mkm reiterated a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.15.

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.