Shannon Browning Kinney Sells 3,019 Shares of Chord Energy (NASDAQ:CHRD) Stock

Key Points

• Shannon Browning Kinney, EVP of Chord Energy, sold 3,019 shares at an average price of $105.43, resulting in a total transaction of $318,293.17, reducing their ownership by 17.09%.
• Chord Energy's recent quarterly earnings showed an EPS of $1.79, missing estimates by $0.09, while revenue increased by 5.3% year-over-year to $1.18 billion.
• The company declared a quarterly dividend of $1.30, which translates to an annual yield of 4.9%, despite a high dividend payout ratio of 132.32%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares of the company's stock, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shannon Browning Kinney also recently made the following trade(s):

• On Thursday, August 14th, Shannon Browning Kinney sold 1,000 shares of Chord Energy stock. The stock was sold at an average price of $101.64, for a total transaction of $101,640.00.

Chord Energy Stock Up 1.0%

NASDAQ:CHRD traded up $1.11 during trading hours on Monday, reaching $107.04. The company's stock had a trading volume of 770,416 shares, compared to its average volume of 804,489. The company has a market capitalization of $6.13 billion, a P/E ratio of 27.24 and a beta of 0.97. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $154.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The stock has a 50 day moving average price of $104.52 and a two-hundred day moving average price of $101.61.

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

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, August 21st. Chord Energy's dividend payout ratio is presently 132.32%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHRD. Mizuho cut their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company upped their target price on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. UBS Group upped their price target on shares of Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, Bank of America lowered their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.92.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Chord Energy by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company's stock worth $183,112,000 after purchasing an additional 19,227 shares during the last quarter. American Century Companies Inc. raised its holdings in Chord Energy by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company's stock valued at $129,496,000 after acquiring an additional 179,209 shares during the last quarter. Sourcerock Group LLC raised its holdings in Chord Energy by 2.1% in the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company's stock valued at $99,947,000 after acquiring an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Chord Energy by 22.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company's stock valued at $95,918,000 after acquiring an additional 180,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Chord Energy by 4.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company's stock valued at $83,169,000 after acquiring an additional 32,802 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

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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