Shannon Browning Kinney Sells 1,000 Shares of Chord Energy Co. (NASDAQ:CHRD) Stock

Chord Energy Co. (NASDAQ:CHRD) CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Chord Energy Stock Performance

Shares of CHRD stock traded down $1.41 on Tuesday, hitting $117.92. The company had a trading volume of 702,484 shares, compared to its average volume of 892,972. Chord Energy Co. has a twelve month low of $115.96 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.21 billion, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 4.70 and a beta of 0.96. The company has a 50-day moving average price of $129.00 and a 200-day moving average price of $148.21.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.04 earnings per share. As a group, equities research analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. grew its position in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the period. Bank of Montreal Can grew its holdings in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after purchasing an additional 52,835 shares during the period. Foundry Partners LLC increased its position in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after buying an additional 9,613 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Chord Energy during the 2nd quarter worth approximately $2,515,000. Finally, Kore Advisors LP purchased a new position in shares of Chord Energy during the 3rd quarter valued at approximately $4,428,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CHRD. Piper Sandler upped their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

About Chord Energy

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.