Chord Energy (NASDAQ:CHRD) COO Darrin Henke Sells 1,276 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) COO Darrin Henke sold 1,276 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Chord Energy Stock Performance

NASDAQ CHRD opened at $149.56 on Tuesday. The firm has a 50-day moving average of $135.81 and a 200-day moving average of $109.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $8.42 billion, a PE ratio of -132.35 and a beta of 0.52. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.

Chord Energy (NASDAQ:CHRD) last posted its 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 analysts’ expectations of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. Chord Energy’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.04 EPS. On average, sell-side analysts anticipate that Chord Energy Corporation will post 18.61 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, May 20th. Chord Energy’s dividend payout ratio is presently -460.18%.

Analyst Ratings Changes

A number of brokerages have issued reports on CHRD. Citigroup increased their target price on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Weiss Ratings upgraded shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Piper Sandler increased their target price on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Scotiabank increased their target price on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley raised Chord Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $114.00 to $168.00 in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.15.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of 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 acquired a new position in shares of Chord Energy in the 1st quarter valued at approximately $29,000. Root Financial Partners LLC raised its position in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after buying an additional 150 shares in the last quarter. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Chord Energy in the 3rd quarter valued at approximately $32,000. 97.76% of the stock is currently 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.