Insider Selling: Chord Energy (NASDAQ:CHRD) Director Sells 1,500 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 1,500 shares of the company’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 owned 18,705 shares in the company, valued at $2,591,951.85. This represents a 7.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $3.63 on Monday, hitting $140.07. The company’s stock had a trading volume of 799,383 shares, compared to its average volume of 985,673. 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 fifty day moving average of $131.32 and a two-hundred day moving average of $107.34. The firm has a market capitalization of $7.89 billion, a P/E ratio of -123.96 and a beta of 0.52. Chord Energy Corporation has a one year low of $84.25 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.04 earnings per share. Research analysts predict that Chord Energy Corporation will post 17.51 earnings per share for the current year.

Chord Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHRD shares. Scotiabank upped their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Zacks Research raised Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. UBS Group upped their target price on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen raised Chord Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.15.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in CHRD. Bessemer Group Inc. grew its position in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Chord Energy during the first quarter worth approximately $29,000. WealthCollab LLC boosted its holdings in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Chord Energy in the 3rd quarter valued at $32,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.