Chord Energy (NASDAQ:CHRD) EVP Sells $562,660.00 in Stock

Chord Energy Corporation (NASDAQ:CHRD) EVP Shannon Browning Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the sale, the executive vice president owned 13,560 shares in the company, valued at $1,898,400. This represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Chord Energy Stock Up 2.1%

Shares of NASDAQ CHRD opened at $137.32 on Friday. The stock has a market cap of $7.51 billion, a P/E ratio of 9.20 and a beta of 0.48. The firm has a 50 day moving average price of $127.94 and a 200 day moving average price of $126.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 EPS. Analysts expect that Chord Energy Corporation will post 18.03 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. Chord Energy’s payout ratio is 34.85%.

Institutional Investors Weigh In On Chord Energy

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock valued at $190,346,000 after acquiring an additional 277,588 shares in the last quarter. Wellington Management Group LLP boosted its stake in Chord Energy by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock worth $167,743,000 after purchasing an additional 104,373 shares during the period. Dimensional Fund Advisors LP increased its holdings in Chord Energy by 27.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after purchasing an additional 329,565 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Chord Energy by 18.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after purchasing an additional 193,469 shares in the last quarter. Finally, Sourcerock Group LLC raised its stake in shares of Chord Energy by 2.1% in the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after purchasing an additional 20,916 shares during the period. Institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings raised Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday. Mizuho raised Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday. Truist Financial lowered their price target on Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a report on Monday. Finally, Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.54.

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.