Chord Energy (NASDAQ:CHRD) EVP Shannon Browning Kinney Sells 4,019 Shares of Stock

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

Chord Energy Price Performance

Shares of Chord Energy stock opened at $137.58 on Thursday. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 9.22 and a beta of 0.48. The company has a fifty day moving average of $128.00 and a 200-day moving average of $126.50. 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 (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.Chord Energy’s revenue for the quarter was up 128.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.79 EPS. Equities research analysts expect that Chord Energy Corporation will post 18.03 EPS for the current year.

Chord Energy Announces Dividend

The business also recently disclosed 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 is Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. Chord Energy’s payout ratio is currently 34.85%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHRD. Truist Financial dropped their target price on Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a report on Monday. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Scotiabank boosted their price objective 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. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Mizuho upgraded shares of Chord Energy to a “strong-buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $152.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. grew 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 worth $27,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Chord Energy in the first quarter worth $29,000. Root Financial Partners LLC lifted its stake in Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the period. Versant Capital Management Inc boosted its holdings in Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares in the last quarter. Finally, WealthCollab LLC boosted its holdings in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

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.