Chord Energy (NASDAQ:CHRD) EVP Michael Lou Sells 15,000 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) EVP Michael Lou sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Chord Energy Stock Up 2.4%

CHRD stock opened at $126.37 on Tuesday. The stock has a market cap of $7.18 billion, a P/E ratio of 200.59 and a beta of 0.84. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $103.11 and its two-hundred day simple moving average is $98.25. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $127.56.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business’s revenue was down 19.6% compared to the same quarter last year. During the same period last year, the firm posted $3.49 EPS. Analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, March 12th. Chord Energy’s payout ratio is presently 825.40%.

Wall Street Analyst Weigh In

CHRD has been the subject of several research analyst reports. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. Mizuho set a $148.00 price objective on Chord Energy in a report on Friday, January 9th. Morgan Stanley decreased their target price on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Scotiabank restated a “sector perform” rating and issued a $114.00 target price on shares of Chord Energy in a research note on Friday, January 16th. Finally, Citigroup upped their price target on Chord Energy from $97.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.27.

Institutional Trading of Chord Energy

A number of institutional investors have recently modified their holdings of CHRD. WealthCollab LLC raised its holdings in 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 during the period. Quent Capital LLC purchased a new stake in shares of Chord Energy during the third quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after acquiring an additional 196 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Chord Energy in the third quarter worth $46,000. Finally, TD Private Client Wealth LLC grew its position in shares of Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock valued at $54,000 after purchasing an additional 454 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.