Chord Energy Corporation (NASDAQ:CHRD – Get Free Report) COO Darrin Henke sold 1,276 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Chord Energy Price Performance
NASDAQ:CHRD traded up $1.17 during mid-day trading on Monday, reaching $149.56. 871,387 shares of the company were exchanged, compared to its average volume of 724,787. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The company has a fifty day moving average of $135.81 and a 200 day moving average of $109.90. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.42 billion, a PE ratio of 14.87 and a beta of 0.52.
Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $4.04 EPS. The company’s revenue was up 37.1% on a year-over-year basis. On average, research analysts anticipate that Chord Energy Corporation will post 18.61 EPS for the current fiscal year.
Chord Energy Announces Dividend
Hedge Funds Weigh In On Chord Energy
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy in the first quarter valued at about $29,000. WealthCollab LLC grew its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in Chord Energy in the third quarter valued at about $32,000. Finally, Root Financial Partners LLC grew its position in Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the last quarter. 97.76% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CHRD shares. Morgan Stanley upgraded shares of Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $114.00 to $168.00 in a research report on Friday, March 27th. Wells Fargo & Company increased their price target on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Roth Mkm reiterated a “buy” rating and issued a $140.00 price target (up from $130.00) on shares of Chord Energy in a research report on Friday, April 17th. Finally, Citigroup increased their price target on shares of Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.15.
Check Out Our Latest Research Report on CHRD
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.
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