Michael Lou Sells 15,000 Shares of Chord Energy (NASDAQ:CHRD) Stock

Key Points

• EVP Michael Lou sold 15,000 Chord Energy shares on March 12 at an average price of $125.47 (totaling $1.882M), trimming his stake by 15.35% to 82,699 shares; the sale was disclosed in an SEC filing.
• Chord declared a quarterly dividend of $1.30 (annualized $5.20) for a 4.1% yield with an ex-dividend date of March 12, but the payout ratio is an unusually high 825.4%.
• The company beat quarterly EPS estimates ($1.28 vs. $1.17) and revenue expectations despite a 19.6% YoY revenue decline; CHRD recently traded around $126, has a market cap of $7.18B, and carries a consensus rating of “Moderate Buy” with an average target of $131.27.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) EVP Michael Lou sold 15,000 shares of Chord Energy stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at approximately $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Chord Energy Stock Up 2.4%

Shares of CHRD traded up $2.92 during mid-day trading on Monday, reaching $126.37. The company's stock had a trading volume of 1,371,185 shares, compared to its average volume of 1,002,668. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 200.59 and a beta of 0.84. The business has a fifty day moving average of $102.40 and a 200 day moving average of $98.14. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $127.56.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.Chord Energy's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. As a group, analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, March 12th. Chord Energy's payout ratio is 825.40%.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently made changes to their positions in CHRD. SBI Securities Co. Ltd. increased its holdings in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock worth $74,000 after buying an additional 113 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in Chord Energy by 2.3% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Chord Energy by 18.8% in 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 during the last quarter. WealthCollab LLC grew its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Chord Energy by 3.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company's stock worth $430,000 after purchasing an additional 157 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CHRD. Pickering Energy Partners downgraded Chord Energy from an "outperform" rating to a "neutral" rating in a report on Friday, January 9th. Weiss Ratings downgraded shares of Chord Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Scotiabank reiterated a "sector perform" rating and issued a $114.00 price objective on shares of Chord Energy in a research note on Friday, January 16th. Mizuho set a $148.00 target price on shares of Chord Energy in a research report on Friday, January 9th. Finally, Wells Fargo & Company lifted their target price on shares of Chord Energy from $109.00 to $136.00 and gave the company an "overweight" rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.27.

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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