Insider Selling: Chord Energy (NASDAQ:CHRD) COO Sells 1,276 Shares of Stock

Chord Energy Corporation (NASDAQ:CHRD) COO Darrin Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Chord Energy Price Performance

Chord Energy stock traded up $1.17 during midday trading on Monday, reaching $149.56. The company’s stock had a trading volume of 871,387 shares, compared to its average volume of 724,787. The stock has a market cap of $8.42 billion, a PE ratio of 14.87 and a beta of 0.52. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $135.81 and a 200-day moving average price of $109.90. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.04 earnings per share. On average, sell-side analysts predict that Chord Energy Corporation will post 18.61 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, May 20th. Chord Energy’s payout ratio is -460.18%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHRD shares. Scotiabank lifted their price objective on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Wells Fargo & Company lifted their price objective on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Finally, Morgan Stanley raised Chord Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $114.00 to $168.00 in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $156.15.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Chord Energy by 119.3% during the 1st quarter. Royal Bank of Canada now owns 36,579 shares of the company’s stock valued at $5,202,000 after purchasing an additional 19,896 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Chord Energy by 68.7% during the 1st quarter. Quantinno Capital Management LP now owns 31,889 shares of the company’s stock worth $4,534,000 after acquiring an additional 12,983 shares during the period. SummitTX Capital L.P. bought a new position in shares of Chord Energy during the 1st quarter worth $1,059,000. Entropy Technologies LP bought a new position in shares of Chord Energy during the 1st quarter worth $470,000. Finally, Morningstar Investment Management LLC bought a new position in shares of Chord Energy during the 1st quarter worth $2,882,000. Institutional investors own 97.76% of the company’s stock.

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.