Chord Energy (NASDAQ:CHRD) Stock Sees Heavy Put Option Buying

Chord Energy Corporation (NASDAQ:CHRD) was the target of unusually large options trading activity on Monday. Stock traders acquired 4,574 put options on the company. This is an increase of approximately 1,979% compared to the typical daily volume of 220 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CHRD shares. Scotiabank initiated coverage on Chord Energy in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $192.00 price target on the stock. Seaport Research Partners started coverage on Chord Energy in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Wells Fargo & Company decreased their price objective on Chord Energy from $175.00 to $174.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Truist Financial raised their target price on Chord Energy from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Zacks Research raised Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.54.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Mckinney sold 9,750 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the completion of the transaction, the director directly owned 7,280 shares of the company’s stock, valued at $1,091,563.20. The trade was a 57.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the transaction, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,969 shares of company stock valued at $3,389,599 in the last quarter. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in Chord Energy by 46.8% during the 3rd quarter. Signaturefd LLC now owns 4,558 shares of the company’s stock valued at $611,000 after purchasing an additional 1,454 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Chord Energy by 41.1% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,475 shares of the company’s stock worth $600,000 after buying an additional 1,304 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Chord Energy in the third quarter valued at $208,000. RWC Asset Management LLP lifted its holdings in shares of Chord Energy by 34.5% in the third quarter. RWC Asset Management LLP now owns 158,116 shares of the company’s stock valued at $21,199,000 after buying an additional 40,583 shares during the period. Finally, Inspire Investing LLC bought a new position in Chord Energy during the third quarter valued at about $405,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Price Performance

CHRD traded down $1.39 on Monday, reaching $156.74. The company had a trading volume of 118,808 shares, compared to its average volume of 854,010. The company has a fifty day moving average of $145.07 and a 200-day moving average of $137.10. The company has a market capitalization of $8.57 billion, a P/E ratio of 10.51 and a beta of 0.59. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. Chord Energy has a one year low of $84.25 and a one year high of $159.96.

Chord Energy (NASDAQ:CHRD) last released 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm’s quarterly revenue was up 128.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 EPS. As a group, equities research analysts anticipate that Chord Energy will post 23.11 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, August 20th. Chord Energy’s dividend payout ratio (DPR) is currently 34.85%.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.