Insider Selling: Chord Energy (NASDAQ:CHRD) Director Sells 3,500 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 3,500 shares of Chord Energy stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the transaction, the director owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Chord Energy Stock Performance

CHRD stock traded up $3.63 during trading on Monday, hitting $140.07. 799,383 shares of the company traded hands, compared to its average volume of 985,673. The stock’s 50-day simple moving average is $131.32 and its 200 day simple moving average is $107.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $7.89 billion, a PE ratio of -123.96 and a beta of 0.52. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $150.50.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period last year, the business earned $4.04 earnings per share. On average, equities analysts expect that Chord Energy Corporation will post 17.51 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on CHRD shares. Citigroup boosted their price objective on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. Zacks Research upgraded Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a research report on Saturday, January 17th. Wall Street Zen upgraded Chord Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.15.

Institutional Trading of Chord Energy

A number of institutional investors have recently made changes to their positions in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Chord Energy by 17.1% in 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 acquiring an additional 18,137 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Chord Energy in the first quarter worth approximately $289,000. EverSource Wealth Advisors LLC boosted its stake in shares of Chord Energy by 364.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after acquiring an additional 1,220 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Chord Energy in the second quarter worth approximately $1,010,000. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Chord Energy by 108.5% in the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after acquiring an additional 5,428 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.