Douglas Brooks Sells 3,000 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 3,000 shares of Chord Energy stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.79, for a total transaction of $413,370.00. Following the sale, the director owned 23,705 shares of the company’s stock, valued at approximately $3,266,311.95. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Chord Energy Trading Up 1.4%

Shares of CHRD opened at $142.01 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $133.34 and a 200-day simple moving average of $108.40. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $150.50. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -125.67 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company posted $4.04 EPS. The company’s revenue was up 37.1% on a year-over-year basis. Equities analysts forecast that Chord Energy Corporation will post 17.51 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Institutional Trading of Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth purchased a new stake in Chord Energy during the 1st quarter worth $289,000. EverSource Wealth Advisors LLC boosted its position in Chord Energy by 364.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after purchasing an additional 1,220 shares during the period. Jump Financial LLC purchased a new stake in Chord Energy during the 2nd quarter worth $1,010,000. Finally, Gamco Investors INC. ET AL boosted its position in Chord Energy by 108.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CHRD. Mizuho lifted their target price on shares of Chord Energy from $162.00 to $164.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research note on Saturday, January 17th. Scotiabank lifted their target price on shares of Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $114.00 to $168.00 in a research note on Friday, March 27th. Finally, Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.15.

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.