Michael Lou Sells 15,000 Shares of Chord Energy (NASDAQ:CHRD) Stock

Chord Energy Corporation (NASDAQ:CHRD) EVP Michael Lou sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This represents a 15.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chord Energy Trading Up 0.6%

CHRD opened at $127.07 on Wednesday. The business’s 50 day moving average price is $103.86 and its 200 day moving average price is $98.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The stock has a market capitalization of $7.22 billion, a PE ratio of 201.70 and a beta of 0.84. Chord Energy Corporation has a one year low of $79.83 and a one year high of $130.17.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm 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%. Chord Energy’s revenue was down 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 EPS. As a group, equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.1%. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Chord Energy from $109.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Citigroup upped their target price on shares of Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.27.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently made changes to their positions in CHRD. SBI Securities Co. Ltd. grew its stake in Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after buying an additional 113 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Chord Energy by 2.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock valued at $527,000 after purchasing an additional 120 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Chord Energy by 18.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock valued at $82,000 after purchasing an additional 130 shares during the last quarter. WealthCollab LLC boosted its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Chord Energy by 3.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock worth $430,000 after purchasing an additional 157 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.