Darrin Henke Sells 1,276 Shares of Chord Energy (NASDAQ:CHRD) Stock

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

Chord Energy Stock Up 0.1%

NASDAQ:CHRD opened at $149.65 on Wednesday. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of -132.43 and a beta of 0.52. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95. The stock has a 50-day simple moving average of $136.38 and a 200 day simple moving average of $110.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period last year, the firm earned $4.04 earnings per share. Sell-side analysts predict that Chord Energy Corporation will post 18.61 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. grew its position in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Chord Energy during the 1st quarter worth approximately $29,000. WealthCollab LLC grew its holdings in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Chord Energy during the 3rd quarter valued at $32,000. Finally, Root Financial Partners LLC grew 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 acquiring an additional 150 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CHRD shares. Scotiabank lifted their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Morgan Stanley upgraded Chord Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $114.00 to $168.00 in a research note on Friday, March 27th. Mizuho lifted their target price on Chord Energy from $162.00 to $164.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Citigroup lifted their target price on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. Finally, UBS Group lifted their target price on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.