Shannon Browning Kinney Sells 4,019 Shares of Chord Energy (NASDAQ:CHRD) Stock

Key Points

• Insider sale: EVP Shannon Browning Kinney sold 4,019 Chord Energy shares for $562,660 at an average price of $140, reducing her direct ownership by 22.86% to 13,560 shares.
• Mixed financial performance: Chord Energy’s shares fell 1.2% to $137.58, while quarterly EPS of $6.44 slightly missed estimates despite revenue rising 128.6% year over year to $2.17 billion.
• Dividend and analyst outlook: The company declared a quarterly dividend of $1.30, implying a 3.8% yield, and analysts maintain a “Moderate Buy” consensus with a $153.46 average price target.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) EVP Shannon Browning Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president directly owned 13,560 shares of the company's stock, valued at $1,898,400. This represents a 22.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Chord Energy Trading Down 1.2%

Chord Energy stock traded down $1.65 during mid-day trading on Wednesday, hitting $137.58. 688,018 shares of the stock were exchanged, compared to its average volume of 912,920. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The firm's fifty day simple moving average is $128.06 and its two-hundred day simple moving average is $126.20. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 9.22 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company posted $1.79 earnings per share. The company's revenue for the quarter was up 128.6% compared to the same quarter last year. Analysts forecast that Chord Energy Corporation will post 18.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.20 annualized dividend and a yield of 3.8%. Chord Energy's payout ratio is presently 34.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on CHRD. Wall Street Zen downgraded Chord Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Roth Capital restated a "buy" rating and set a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Mizuho upgraded Chord Energy to a "strong-buy" rating in a report on Friday, July 31st. Truist Financial reduced their price objective on shares of Chord Energy from $170.00 to $166.00 and set a "buy" rating for the company in a research report on Monday. Finally, Morgan Stanley decreased their price target on shares of Chord Energy from $175.00 to $169.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position 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 buying an additional 74 shares during the last quarter. Versant Capital Management Inc grew its holdings in Chord Energy by 330.9% during the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company's stock valued at $27,000 after buying an additional 182 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Chord Energy during the 1st quarter worth approximately $29,000. WealthCollab LLC increased its holdings in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after purchasing an additional 145 shares during the period. Finally, Root Financial Partners LLC increased its stake in 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 acquiring an additional 150 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Company Profile

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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