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

Chord Energy Co. (NASDAQ:CHRD) EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Chord Energy Stock Performance

CHRD opened at $97.63 on Tuesday. The business’s 50 day moving average is $98.53 and its 200-day moving average is $112.26. The stock has a market cap of $5.81 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.10 earnings per share. On average, analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm 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 dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.33%. Chord Energy’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after buying an additional 394,372 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after purchasing an additional 115,215 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after purchasing an additional 627,122 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Chord Energy by 15.0% during the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock worth $130,491,000 after purchasing an additional 145,627 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Piper Sandler decreased their price target on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Finally, Truist Financial upped their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.08.

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.