Chord Energy (NASDAQ:CHRD) Shares Gap Down – Should You Sell?

Chord Energy Corporation (NASDAQ:CHRD)’s share price gapped down before the market opened on Monday . The stock had previously closed at $135.34, but opened at $127.66. Chord Energy shares last traded at $127.1390, with a volume of 119,294 shares.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several recent research reports. Roth Mkm restated a “buy” rating and set a $140.00 target price (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Wells Fargo & Company boosted their target price on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Citigroup boosted their target price on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. Morgan Stanley boosted their target price on Chord Energy from $168.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Finally, Truist Financial lowered their target price on Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.54.

Chord Energy Stock Down 5.2%

The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -113.73 and a beta of 0.48. The business has a fifty day moving average of $138.46 and a 200 day moving average of $116.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm posted $4.04 earnings per share. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Corporation will post 20.53 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio is -460.18%.

Insiders Place Their Bets

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director directly owned 20,205 shares in the company, valued at $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the company’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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,276 shares of company stock worth $1,285,968 over the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy during the first quarter worth $29,000. WealthCollab LLC increased its position 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 period. Root Financial Partners LLC increased its position 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 period. Finally, Rockefeller Capital Management L.P. increased its position in shares of Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after acquiring an additional 341 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.