Chord Energy Co. (NASDAQ:CHRD) EVP Shannon Browning Kinney Sells 3,091 Shares

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Chord Energy Stock Performance

NASDAQ CHRD traded down $2.52 on Thursday, hitting $95.46. 306,258 shares of the stock traded hands, compared to its average volume of 980,601. The business's fifty day moving average is $98.36 and its two-hundred day moving average is $112.07. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 5.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $5.10 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is currently 34.78%.

Hedge Funds Weigh In On Chord Energy

Large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in shares of Chord Energy in the fourth quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the fourth quarter worth $29,000. Twin Tree Management LP purchased a new stake in shares of Chord Energy in the fourth quarter worth $33,000. Larson Financial Group LLC raised its position in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after buying an additional 224 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several analyst reports. Citigroup lowered their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Bank of America raised Chord Energy from a "neutral" rating to a "buy" rating and decreased their price target for the company from $125.00 to $114.00 in a research report on Tuesday, April 29th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Finally, Piper Sandler decreased their price target on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and a consensus price target of $153.92.

About Chord Energy

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.