Chord Energy (NASDAQ:CHRD) Director Sells $478,485.00 in Stock

Key Points

• Chord Energy director Douglas Brooks sold 3,500 shares on May 8 at an average price of $136.71, totaling $478,485. After the sale, he still held 20,205 shares, though his position was reduced by 14.76%.
• The company reported stronger-than-expected quarterly results, posting EPS of $4.56 versus estimates of $3.51 and revenue of $1.67 billion versus expectations of $1.21 billion. Revenue rose 37.1% year over year.
• Chord Energy announced a quarterly dividend of $1.30 per share, payable June 5 to shareholders of record on May 20. That works out to an annualized dividend of $5.20 per share and a yield of 3.7%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) Director Douglas Brooks sold 3,500 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the sale, the director directly owned 20,205 shares of the company's stock, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Chord Energy Stock Up 2.7%

NASDAQ CHRD traded up $3.63 during trading on Monday, hitting $140.07. The company's stock had a trading volume of 799,383 shares, compared to its average volume of 985,673. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $7.89 billion, a PE ratio of -123.96 and a beta of 0.52. The business's 50 day simple moving average is $131.32 and its 200-day simple moving average is $107.34. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $150.50.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company's quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company earned $4.04 earnings per share. On average, equities analysts anticipate that Chord Energy Corporation will post 17.51 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. Chord Energy's payout ratio is -460.18%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Roth Mkm reaffirmed a "buy" rating and set a $140.00 target price (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Zacks Research raised Chord Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Scotiabank lifted 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. Piper Sandler lifted their target price on Chord Energy from $158.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Finally, Morgan Stanley raised Chord Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $114.00 to $168.00 in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.15.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock valued at $27,000 after acquiring an additional 74 shares in the last quarter. Blue Trust Inc. raised its position in Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company's stock valued at $66,000 after acquiring an additional 84 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Chord Energy by 16.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $74,000 after acquiring an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Chord Energy by 2.3% during the third quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company's stock valued at $527,000 after acquiring an additional 120 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Chord Energy by 18.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company's stock valued at $82,000 after acquiring an additional 130 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

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