Chord Energy (NASDAQ:CHRD) EVP Sells 4,019 Shares

Chord Energy Corporation (NASDAQ:CHRD) EVP Shannon Browning Kinney sold 4,019 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. The trade was a 22.86% 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 hyperlink.

Chord Energy Trading Down 1.2%

Chord Energy stock traded down $1.65 during trading hours on Wednesday, reaching $137.58. The stock had a trading volume of 688,018 shares, compared to its average volume of 912,920. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The stock has a market cap of $7.53 billion, a PE ratio of 9.22 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company has a fifty day simple moving average of $128.06 and a 200-day simple moving average of $126.20.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. Chord Energy’s quarterly revenue was up 128.6% on a year-over-year basis. During the same period last year, the firm posted $1.79 earnings per share. Analysts forecast that Chord Energy Corporation will post 18.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.8%. Chord Energy’s dividend payout ratio is 34.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Weiss Ratings upgraded Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday. Citigroup cut their target price on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Scotiabank raised 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. Finally, Mizuho upgraded Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.46.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the business. 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 buying an additional 18,137 shares during the period. Focus Partners Wealth acquired a new stake in Chord Energy in the 1st quarter worth approximately $289,000. EverSource Wealth Advisors LLC lifted its stake in shares of Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after buying an additional 1,220 shares during the period. Jump Financial LLC acquired a new stake in Chord Energy during the 2nd quarter worth about $1,010,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Chord Energy by 108.5% during the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 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.