Chord Energy Co. (NASDAQ:CHRD) EVP Shannon Browning Kinney Sells 3,091 Shares

Chord Energy Co. (NASDAQ:CHRD) EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now directly owns 21,277 shares of the company’s stock, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Chord Energy Stock Down 1.5%

Shares of NASDAQ:CHRD opened at $97.98 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02. The company has a 50-day moving average price of $98.36 and a 200 day moving average price of $112.07. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $5.10 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is currently 34.78%.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new stake in Chord Energy in the 1st quarter worth about $308,000. Gamco Investors INC. ET AL raised its position in Chord Energy by 6.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,001 shares of the company’s stock worth $564,000 after purchasing an additional 298 shares during the period. Ceredex Value Advisors LLC raised its position in Chord Energy by 2.9% in the 1st quarter. Ceredex Value Advisors LLC now owns 108,000 shares of the company’s stock worth $12,174,000 after purchasing an additional 3,000 shares during the period. Synovus Financial Corp raised its position in Chord Energy by 11.7% in the 1st quarter. Synovus Financial Corp now owns 6,402 shares of the company’s stock worth $722,000 after purchasing an additional 673 shares during the period. Finally, Valueworks LLC raised its position in Chord Energy by 1.6% in the 1st quarter. Valueworks LLC now owns 178,554 shares of the company’s stock worth $20,114,000 after purchasing an additional 2,860 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHRD has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Piper Sandler decreased their price target on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Finally, Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $125.00 to $114.00 in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.92.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.