Douglas Brooks Sells 3,000 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 3,000 shares of Chord Energy stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $137.79, for a total transaction of $413,370.00. Following the transaction, the director directly owned 23,705 shares of the company’s stock, valued at $3,266,311.95. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Chord Energy Trading Up 2.7%

NASDAQ CHRD traded up $3.63 on Monday, hitting $140.07. 799,383 shares of the stock were exchanged, compared to its average volume of 985,673. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a fifty day moving average price of $131.32 and a two-hundred day moving average price of $107.34. The firm has a market capitalization of $7.89 billion, a P/E ratio of -123.96 and a beta of 0.52. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $150.50.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. Chord Energy’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.04 earnings per share. Research analysts forecast that Chord Energy Corporation will post 17.51 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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

Analysts Set New Price Targets

CHRD has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research note on Saturday, January 17th. Scotiabank lifted their target price on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. UBS Group lifted their target price on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wall Street Zen upgraded Chord Energy from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.15.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew 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 purchasing an additional 74 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy during the first quarter worth about $29,000. Root Financial Partners LLC grew its stake in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the last quarter. WealthCollab LLC grew its stake 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 acquiring an additional 145 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Chord Energy in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.