Key Points
- Insider sale: Director Douglas Brooks sold 2,126 shares at an average price of $120.28 on March 6, reducing his stake by about 7.79% and generating roughly $255,715, according to the SEC filing.
- Dividend declared: Chord announced a quarterly dividend of $1.30 (annualized $5.20) for a ~4.2% yield, but the dividend payout ratio is extremely high at 825.4%, raising questions about sustainability.
- Earnings and outlook: Q results beat estimates (EPS $1.28 vs $1.17, revenue $1.17B vs $1.03B) despite a 19.6% YoY revenue decline; the stock trades near $123 with an average analyst target of $125.91 and mixed ratings.
Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) Director Douglas Brooks sold 2,126 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director directly owned 25,181 shares of the company's stock, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Chord Energy Stock Up 1.5%
Shares of Chord Energy stock opened at $123.22 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market cap of $7.00 billion, a P/E ratio of 195.59 and a beta of 0.84. The firm's 50 day moving average price is $100.06 and its 200-day moving average price is $97.69. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $127.56.
Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $3.49 earnings per share. On average, sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.
Chord Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be paid a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.2%. Chord Energy's dividend payout ratio (DPR) is 825.40%.
Analysts Set New Price Targets
Several equities analysts recently commented on CHRD shares. Piper Sandler increased their price objective on shares of Chord Energy from $151.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on shares of Chord Energy from $135.00 to $128.00 and set an "outperform" rating for the company in a research note on Tuesday, January 13th. Zacks Research downgraded Chord Energy from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 20th. Citigroup boosted their price target on Chord Energy from $97.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Jefferies Financial Group set a $99.00 target price on Chord Energy in a report on Saturday, January 17th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $125.91.
Check Out Our Latest Analysis on Chord Energy
Hedge Funds Weigh In On Chord Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new position in Chord Energy in the 3rd quarter valued at about $91,434,000. Orion Porfolio Solutions LLC increased its stake in Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company's stock worth $68,675,000 after buying an additional 698,680 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Chord Energy by 85.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company's stock worth $112,927,000 after buying an additional 561,899 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company's stock valued at $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Chord Energy by 186.2% in the third quarter. Barclays PLC now owns 501,170 shares of the company's stock valued at $49,801,000 after acquiring an additional 326,054 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.
Chord Energy News Summary
Here are the key news stories impacting Chord Energy this week:
- Positive Sentiment: UBS raised its price target on CHRD to $142, signaling stronger analyst conviction about the company's outlook — a direct positive for investor sentiment and buys. UBS Raises CHRD Price Target
- Positive Sentiment: Another outlet reports a raised price target to $120, adding to the cluster of upward revisions that support current momentum. Price Target Raised to $120
- Neutral Sentiment: A Yahoo Finance piece outlines shifting investment narratives and conflicting analyst assumptions for CHRD — useful context for understanding why some analysts differ but not an immediate buy/sell signal. How The CHRD Investment Story Is Shifting
- Neutral Sentiment: The Globe and Mail notes a rating update from a top analyst; specifics matter (upgrade vs. reiteration) but the mention reinforces why analyst flows are moving the stock. Rating Update from a Top Analyst
- Neutral Sentiment: Reported short-interest data appears anomalous (zeros/NaN). Current figures look unreliable, so short-interest-driven moves are unlikely until corrected data is available.
- Negative Sentiment: Significant insider selling: the company’s CAO sold about $568,300 of CHRD stock — a potentially negative signal that may raise governance/insider-confidence questions. CAO Insider Sale
- Negative Sentiment: Director Douglas E. Brooks sold 2,126 shares (~7.8% reduction in his reported transaction), which can weigh on sentiment when paired with other insider sales. Director Insider Sale (SEC Filing)
- Negative Sentiment: Coverage highlighting management’s comment that the company has returned more to shareholders than its current market value (the "$6.7B" framing) raises concerns about capital allocation and valuation that could cap upside. $6.7B Statement on Shareholder Returns
Chord Energy Company Profile
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Get Free Report)
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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