Insider Selling: Chord Energy (NASDAQ:CHRD) Director Sells 2,126 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 2,126 shares of Chord Energy stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director owned 25,181 shares in the company, valued at $3,028,770.68. This represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chord Energy Stock Up 1.5%

Shares of CHRD stock traded up $1.86 on Monday, hitting $123.22. The stock had a trading volume of 2,648,843 shares, compared to its average volume of 955,958. The stock’s 50 day moving average is $99.42 and its 200-day moving average is $97.54. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 195.59 and a beta of 0.84. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $127.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $3.49 EPS. The firm’s quarterly revenue was down 19.6% on a year-over-year basis. As a group, research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 4.2%. Chord Energy’s payout ratio is currently 825.40%.

Institutional Trading of Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth bought a new stake in shares of Chord Energy during the 1st quarter valued at about $289,000. Envestnet Asset Management Inc. grew its position in shares of Chord Energy by 8.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 89,732 shares of the company’s stock valued at $8,691,000 after buying an additional 6,748 shares during the last quarter. Assetmark Inc. raised its stake in Chord Energy by 7.3% during the second quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock worth $137,000 after acquiring an additional 96 shares during the period. Finally, Savant Capital LLC acquired a new stake in Chord Energy during the second quarter worth about $3,484,000. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of recent analyst reports. Mizuho set a $148.00 price target on shares of Chord Energy in a research report on Friday, January 9th. Pickering Energy Partners downgraded shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. William Blair began coverage on shares of Chord Energy in a research report on Friday, November 21st. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research note on Saturday, January 17th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.91.

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.