Douglas Brooks Sells 3,500 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 3,500 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the sale, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Chord Energy Price Performance

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

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 in the previous year, the company posted $4.04 earnings per share. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. On average, equities research analysts anticipate that Chord Energy Corporation will post 17.51 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHRD. Truist Financial cut their price objective on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Williams Trading set a $189.00 target price on Chord Energy in a report on Monday, April 20th. Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Wells Fargo & Company boosted their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Finally, Scotiabank upped their price objective on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.15.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in 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 acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Chord Energy during the first quarter worth $29,000. WealthCollab LLC increased its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Chord Energy during the 3rd quarter valued at $32,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Chord Energy by 178.6% during 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 during the last quarter. 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.