Chord Energy (NASDAQ:CHRD) Director Sells $1,461,915.00 in Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Samantha Mckinney sold 9,750 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the sale, the director owned 7,280 shares of the company’s stock, valued at $1,091,563.20. This trade represents a 57.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Samantha Mckinney also recently made the following trade(s):

• On Monday, August 10th, Samantha Mckinney sold 2,200 shares of Chord Energy stock. The shares were sold at an average price of $136.32, for a total transaction of $299,904.00.

Chord Energy Stock Down 1.1%

Chord Energy stock opened at $146.39 on Friday. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $153.00. The firm has a 50 day moving average price of $133.51 and a 200-day moving average price of $131.70. The company has a market capitalization of $8.01 billion, a P/E ratio of 9.81 and a beta of 0.50. 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 (NASDAQ:CHRD) last posted its quarterly earnings results 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 return on equity of 10.18% and a net margin of 13.42%.The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $1.79 EPS. The company’s revenue for the quarter was up 128.6% compared to the same quarter last year. As a group, equities analysts predict that Chord Energy Corporation will post 18.61 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were paid a $1.30 dividend. The ex-dividend date was Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s payout ratio is presently 34.85%.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently made changes to their positions in CHRD. Bessemer Group Inc. raised its stake in shares of Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC bought a new position in Chord Energy in the 1st quarter worth about $29,000. Root Financial Partners LLC boosted 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 purchasing an additional 150 shares during the period. 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. Finally, WealthCollab LLC grew its holdings in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHRD shares. Wells Fargo & Company increased their price target on Chord Energy from $163.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup lowered their price objective on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Truist Financial dropped their price objective on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Morgan Stanley cut their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Seaport Research Partners initiated coverage on shares of Chord Energy in a research note on Thursday. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.46.

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.