Chord Energy Co. (NASDAQ:CHRD) COO Charles J. Rimer Sells 1,111 Shares of Stock

Posted by Defense World Staff on Aug 9th, 2023

Chord Energy Co. (NASDAQ:CHRD – Get Free Report) COO Charles J. Rimer sold 1,111 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $160.00, for a total transaction of $177,760.00. Following the transaction, the chief operating officer now directly owns 92,773 shares in the company, valued at approximately $14,843,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chord Energy Price Performance

NASDAQ CHRD opened at $161.91 on Wednesday. Chord Energy Co. has a 12 month low of $117.05 and a 12 month high of $164.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.96 and a quick ratio of 0.90. The firm has a market capitalization of $6.72 billion, a PE ratio of 3.96, a P/E/G ratio of 0.44 and a beta of 1.28. The company’s 50 day simple moving average is $152.27 and its 200 day simple moving average is $143.78.

Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.31). The business had revenue of $695.40 million during the quarter, compared to analyst estimates of $677.85 million. Chord Energy had a return on equity of 19.07% and a net margin of 44.17%. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter last year, the firm posted $7.30 EPS. As a group, equities research analysts forecast that Chord Energy Co. will post 19.07 EPS for the current fiscal year.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a $1.36 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, August 14th. This represents a $5.44 dividend on an annualized basis and a yield of 3.36%. Chord Energy’s dividend payout ratio (DPR) is currently 12.22%.

Wall Street Analyst Weigh In

CHRD has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of Chord Energy from $176.00 to $177.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Mizuho raised their target price on shares of Chord Energy from $172.00 to $177.00 in a report on Tuesday, July 18th. Citigroup raised their target price on shares of Chord Energy from $170.00 to $185.00 in a report on Friday, August 4th. Piper Sandler dropped their price target on shares of Chord Energy from $204.00 to $202.00 in a research note on Tuesday, June 13th. Finally, Truist Financial dropped their price target on shares of Chord Energy from $247.00 to $221.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $183.88.

Get Our Latest Stock Analysis on CHRD

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Chord Energy in the 4th quarter worth approximately $13,387,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Chord Energy in the 4th quarter worth approximately $760,000. Silvercrest Asset Management Group LLC acquired a new stake in shares of Chord Energy during the 4th quarter valued at $5,631,000. Benjamin Edwards Inc. boosted its stake in shares of Chord Energy by 165.8% during the 1st quarter. Benjamin Edwards Inc. now owns 396 shares of the company’s stock valued at $53,000 after buying an additional 247 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Chord Energy by 333.2% during the 1st quarter. Amalgamated Bank now owns 27,237 shares of the company’s stock valued at $3,666,000 after buying an additional 20,949 shares during the period. Institutional investors and hedge funds own 98.83% of the company’s stock.

About Chord Energy

(Get Free Report)

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.