Chord Energy (NASDAQ:CHRD) Director Sells $299,904.00 in Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Samantha Mckinney sold 2,200 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $136.32, for a total value of $299,904.00. Following the completion of the transaction, the director directly owned 17,030 shares in the company, valued at approximately $2,321,529.60. This trade represents a 11.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Chord Energy Stock Up 2.1%

NASDAQ:CHRD opened at $137.32 on Friday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.51 billion, a P/E ratio of 9.20 and a beta of 0.48. The stock’s fifty day simple moving average is $127.94 and its 200-day simple moving average is $126.85.

Chord Energy (NASDAQ:CHRD) last announced 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). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The firm’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period last year, the firm earned $1.79 earnings per share. Equities research analysts expect that Chord Energy Corporation will post 18.03 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. Chord Energy’s dividend payout ratio (DPR) is 34.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHRD. UBS Group upped their price target on Chord Energy from $153.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reduced their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Wall Street Zen cut shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $152.54.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Chord Energy in the first quarter valued at about $29,000. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the period. Finally, Root Financial Partners LLC boosted its position in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

About Chord Energy

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.