Key Points
- EVP Michael Lou sold 15,000 Chord Energy shares on March 12 at an average price of $125.47 for about $1.88 million, leaving him with 82,699 shares (a 15.35% reduction), per the SEC filing.
- Chord beat quarterly EPS estimates ($1.28 vs. $1.17) with $1.17 billion in revenue, though revenue was down 19.6% year-over-year; the company announced a $1.30 quarterly dividend (annualized $5.20) with a ~4.1% yield but an unusually high 825.4% payout ratio.
- CHRD opened around $126.37 (near its 12-month high of $127.56) and has a consensus rating of "Moderate Buy" with a $131.27 target, while Piper Sandler recently raised its price target to $190.
Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) EVP Michael Lou sold 15,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares of the company's stock, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Chord Energy Stock Up 2.4%
CHRD stock opened at $126.37 on Tuesday. The stock has a 50-day simple moving average of $103.11 and a two-hundred day simple moving average of $98.25. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $127.56. The firm has a market capitalization of $7.18 billion, a PE ratio of 200.59 and a beta of 0.84. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.
Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The company's revenue for the quarter was down 19.6% on a year-over-year basis. On average, equities analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.
Chord Energy Dividend Announcement
The company also recently announced 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 annualized dividend and a yield of 4.1%. Chord Energy's dividend payout ratio is currently 825.40%.
Analyst Ratings Changes
A number of research firms have recently commented on CHRD. Piper Sandler boosted their price target on shares of Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Scotiabank reiterated a "sector perform" rating and issued a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Royal Bank Of Canada dropped their price objective on Chord Energy from $135.00 to $128.00 and set an "outperform" rating for the company in a research note on Tuesday, January 13th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Finally, Wells Fargo & Company upped their target price on Chord Energy from $109.00 to $136.00 and gave the stock an "overweight" rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $131.27.
Check Out Our Latest Research Report on Chord Energy
Hedge Funds Weigh In On Chord Energy
A number of institutional investors have recently made changes to their positions in CHRD. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Chord Energy during the 3rd quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock worth $40,000 after acquiring an additional 196 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the third quarter worth $46,000. Finally, TD Private Client Wealth LLC increased its stake in Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company's stock valued at $54,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 97.76% of the company's stock.
About Chord Energy
(
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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