Chord Energy (NASDAQ:CHRD) Shares Gap Down – Time to Sell?

Chord Energy Corporation (NASDAQ:CHRD)’s share price gapped down prior to trading on Friday . The stock had previously closed at $133.99, but opened at $125.58. Chord Energy shares last traded at $122.1940, with a volume of 88,280 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on CHRD shares. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Piper Sandler increased their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Roth Mkm reissued a “buy” rating and issued a $140.00 price objective on shares of Chord Energy in a research report on Friday. Zacks Research raised shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Finally, Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $114.00 to $168.00 in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

Chord Energy Trading Down 8.3%

The firm has a market capitalization of $6.97 billion, a PE ratio of 195.23 and a beta of 0.66. The stock’s 50-day moving average price is $122.30 and its 200 day moving average price is $103.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period last year, the company posted $3.49 earnings per share. On average, sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.2%. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the transaction, the executive vice president directly owned 20,188 shares of the company’s stock, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 23,927 shares of company stock valued at $2,912,028. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its stake in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after buying an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Chord Energy by 2.3% in the third quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock worth $527,000 after buying an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Chord Energy by 18.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after buying an additional 130 shares in the last quarter. WealthCollab LLC raised its stake in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Chord Energy by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock worth $430,000 after buying an additional 157 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

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.