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

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 23,705 shares in the company, valued at approximately $3,266,311.95. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Chord Energy Stock Performance

NASDAQ CHRD traded up $3.63 on Monday, reaching $140.07. 799,383 shares of the stock were exchanged, compared to its average volume of 985,673. Chord Energy Corporation has a one year low of $84.25 and a one year high of $150.50. The firm has a market capitalization of $7.89 billion, a PE ratio of -123.96 and a beta of 0.52. The company’s 50-day simple moving average is $131.32 and its two-hundred day simple moving average is $107.34. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

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

Chord Energy Dividend Announcement

The business also recently disclosed 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 dividend payout ratio (DPR) is -460.18%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Chord Energy by 19.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,349 shares of the company’s stock valued at $618,000 after purchasing an additional 715 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 27.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock valued at $220,078,000 after purchasing an additional 329,565 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Chord Energy by 13.8% in the first quarter. Parallel Advisors LLC now owns 2,035 shares of the company’s stock valued at $289,000 after purchasing an additional 246 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Chord Energy in the first quarter valued at $60,190,000. Finally, California Public Employees Retirement System grew its holdings in shares of Chord Energy by 5.5% in the first quarter. California Public Employees Retirement System now owns 111,513 shares of the company’s stock valued at $15,855,000 after purchasing an additional 5,807 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CHRD shares. Piper Sandler increased their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a report on Saturday, January 17th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Wells Fargo & Company increased their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Citigroup increased their price objective on shares of Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. One 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. Based on data from MarketBeat, the stock currently 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.