Key Points
- Director Samantha Mckinney sold 9,750 Chord Energy shares at an average price of $149.94, worth approximately $1.46 million, reducing her direct ownership by 57.25% to 7,280 shares. She also sold 2,200 shares in August.
- Chord Energy reported quarterly revenue of $2.17 billion, up 128.6% year over year, but adjusted earnings of $6.44 per share fell short of analysts’ $6.55 estimate. Shares opened at $149.58, near their 12-month high of $153.
- The company declared a quarterly dividend of $1.30 per share, equivalent to $5.20 annually and a 3.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $153.46.
Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) Director Samantha Mckinney sold 9,750 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the transaction, the director directly owned 7,280 shares in the company, valued at $1,091,563.20. The trade was a 57.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Samantha Mckinney also recently made the following trade(s):
- On Monday, August 10th, Samantha Mckinney sold 2,200 shares of Chord Energy stock. The stock was sold at an average price of $136.32, for a total value of $299,904.00.
Chord Energy Trading Down 0.6%
Shares of CHRD stock opened at $149.58 on Thursday. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $153.00. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $132.34 and its two-hundred day moving average is $131.28. The company has a market cap of $8.18 billion, a PE ratio of 10.03 and a beta of 0.50.
Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $1.79 EPS. The company's revenue for the quarter was up 128.6% compared to the same quarter last year. Equities analysts predict that Chord Energy Corporation will post 18.61 EPS for the current year.
Chord Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. Chord Energy's payout ratio is currently 34.85%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. New Age Alpha Advisors LLC grew its position in Chord Energy by 18.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company's stock worth $5,125,000 after buying an additional 8,437 shares in the last quarter. Bank of America Corp DE increased its stake in Chord Energy by 8.4% during the first quarter. Bank of America Corp DE now owns 238,068 shares of the company's stock valued at $33,849,000 after acquiring an additional 18,399 shares during the period. Jefferies Financial Group Inc. acquired a new position in Chord Energy in the 4th quarter valued at approximately $6,489,000. LSV Asset Management raised its holdings in Chord Energy by 269.0% in the 4th quarter. LSV Asset Management now owns 149,385 shares of the company's stock valued at $13,848,000 after acquiring an additional 108,900 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its position in shares of Chord Energy by 122.8% in the 4th quarter. Fox Run Management L.L.C. now owns 16,689 shares of the company's stock worth $1,547,000 after acquiring an additional 9,199 shares during the period. Institutional investors own 97.76% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on CHRD shares. Zacks Research downgraded Chord Energy from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Seaport Research Partners assumed coverage on Chord Energy in a research report on Thursday. They set a "neutral" rating for the company. Truist Financial decreased their target price on Chord Energy from $170.00 to $166.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Wells Fargo & Company raised their target price on Chord Energy from $163.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Roth Capital reiterated a "buy" rating and set a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and a consensus price target of $153.46.
Get Our Latest Report on CHRD
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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