Douglas Brooks Sells 8,000 Shares of Chord Energy (NASDAQ:CHRD) Stock

Key Points

• Director Douglas Brooks sold 8,000 Chord Energy shares at an average price of $133.14, generating approximately $1.07 million. The sale reduced his direct ownership by 42.77% to 10,705 shares.
• Chord Energy shares fell 0.9% to $131.35, while the company’s latest quarterly earnings missed estimates slightly despite revenue rising 128.6% year over year to $2.17 billion.
• The company declared a quarterly dividend of $1.30 per share, equivalent to a $5.20 annualized payout and a 4.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $152.38.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) Director Douglas Brooks sold 8,000 shares of Chord Energy stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director directly owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% 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 Stock Down 0.9%

Shares of NASDAQ:CHRD traded down $1.15 during trading on Friday, hitting $131.35. The stock had a trading volume of 833,634 shares, compared to its average volume of 915,873. The company has a market capitalization of $7.40 billion, a PE ratio of 8.80 and a beta of 0.48. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $128.04 and its 200 day moving average is $125.29. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.27%. The company's revenue for the quarter was up 128.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 earnings per share. Analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.0%. Chord Energy's dividend payout ratio (DPR) is currently 34.85%.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its holdings in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company's stock valued at $66,000 after purchasing an additional 84 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $74,000 after purchasing an additional 113 shares during the last quarter. WealthCollab LLC boosted 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 worth $30,000 after purchasing an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC boosted 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 worth $33,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Chord Energy from $175.00 to $169.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Zacks Research lowered shares of Chord Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 9th. Roth Capital restated a "buy" rating and issued a $145.00 price objective on shares of Chord Energy in a report on Wednesday, July 15th. Mizuho raised shares of Chord Energy to a "strong-buy" rating in a research note on Friday, July 31st. Finally, Truist Financial lowered their target price on shares of Chord Energy from $185.00 to $170.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $152.38.

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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