Douglas Brooks Sells 2,126 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) Director Douglas Brooks sold 2,126 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director owned 25,181 shares in the company, valued at $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Chord Energy Stock Performance

Shares of CHRD opened at $119.03 on Wednesday. The company has a 50-day simple moving average of $100.58 and a 200-day simple moving average of $97.79. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $6.77 billion, a PE ratio of 188.94 and a beta of 0.84. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $127.56.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The firm’s revenue was down 19.6% on a year-over-year basis. Equities research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research reports. Morgan Stanley lowered their price target on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday, January 17th. Wells Fargo & Company lowered their target price on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. Piper Sandler lifted their price target on Chord Energy from $151.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.91.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHRD. Citigroup Inc. raised its holdings in shares of Chord Energy by 31.1% in the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock worth $11,089,000 after acquiring an additional 26,499 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Chord Energy during the third quarter valued at $91,434,000. AlphaQuest LLC increased its position in Chord Energy by 1,576.7% during the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock worth $2,776,000 after purchasing an additional 26,267 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Chord Energy in the 3rd quarter valued at about $13,092,000. Finally, Creative Planning raised its stake in Chord Energy by 37.5% in the 2nd quarter. Creative Planning now owns 21,111 shares of the company’s stock valued at $2,045,000 after purchasing an additional 5,754 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.