Insider Selling: Chord Energy (NASDAQ:CHRD) Director Sells $207,855.00 in Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 1,500 shares of Chord Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares of the company’s stock, valued at approximately $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Chord Energy Trading Up 0.0%

NASDAQ:CHRD opened at $142.03 on Thursday. The firm has a market cap of $8.00 billion, a PE ratio of -125.69 and a beta of 0.52. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $133.92 and a 200 day moving average price of $108.74. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.04 EPS. Sell-side analysts anticipate that Chord Energy Corporation will post 18.26 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

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

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Chord Energy during the 1st quarter worth $29,000. WealthCollab LLC lifted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the period. Quent Capital LLC purchased a new position in shares of Chord Energy during the 3rd quarter worth $32,000. Finally, Root Financial Partners LLC lifted its stake in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research analyst reports. Citigroup lifted their target price on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Scotiabank boosted their price target on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Morgan Stanley upgraded Chord Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $114.00 to $168.00 in a research report on Friday, March 27th. UBS Group boosted 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, May 7th. Finally, Zacks Research upgraded Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.15.

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.