Chord Energy Corporation (NASDAQ:CHRD) EVP Shannon Browning Kinney Sells 1,000 Shares

Key Points

• Chord Energy Corporation's EVP, Shannon Browning Kinney, sold 1,000 shares at an average price of $101.64, reducing their stake by 5.36% to 17,669 shares.
• The company reported a net margin of 5.02% and revenue of $1.18 billion, which exceeded analysts' expectations, although EPS of $1.79 fell short of the $1.88 estimate.
• Chord Energy will pay a quarterly dividend of $1.30 per share on September 8th, with an annualized yield of 5.1% despite a high payout ratio of 132.32%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) EVP Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total transaction of $101,640.00. Following the completion of the sale, the executive vice president directly owned 17,669 shares in the company, valued at approximately $1,795,877.16. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Chord Energy Stock Performance

Chord Energy stock traded down $0.70 during trading hours on Friday, reaching $102.11. 911,170 shares of the company were exchanged, compared to its average volume of 845,992. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 25.98 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $104.35 and a 200 day moving average of $102.10. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $155.88.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.69 earnings per share. As a group, research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, August 21st. Chord Energy's dividend payout ratio is currently 132.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CHRD shares. Citigroup increased their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Piper Sandler reiterated an "overweight" rating and issued a $166.00 price target (up previously from $164.00) on shares of Chord Energy in a report on Thursday. Bank of America cut their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Mizuho dropped their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, UBS Group reaffirmed a "buy" rating and set a $120.00 price target (up from $113.00) on shares of Chord Energy in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.77.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy during the fourth quarter worth $25,000. Bayforest Capital Ltd bought a new stake in shares of Chord Energy during the second quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Chord Energy by 91.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock worth $40,000 after purchasing an additional 196 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after purchasing an additional 341 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after purchasing an additional 529 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.

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