HOUSTON—Kinney Shannon Browning, Executive Vice President, Chief Administrative Officer, General Counsel, and Corporate Secretary of Chord Energy Corp (NASDAQ:CHRD), a $7.05 billion market cap energy company currently trading near its 52-week low, has reported a sale of company shares. According to InvestingPro analysis, the stock appears undervalued with significant upside potential, while offering an attractive 8.8% dividend yield. According to a recent SEC filing, Browning sold 1,000 shares of Chord Energy common stock on December 16, 2024. The shares were sold at a price of $116.35 each, amounting to a total transaction value of $116,350.
Following this sale, Browning now holds 19,488 shares of Chord Energy directly. This transaction was recorded in a Form 4 filing with the Securities and Exchange Commission, detailing changes in insider ownership.
In other recent news, Chord Energy Corp reported strong Q3 results, raising full-year pro forma oil guidance and trimming capital guidance. The company achieved an adjusted free cash flow of approximately $312 million, returning 75% of it to shareholders. Despite production curtailments due to wildfires in North Dakota, Chord Energy projects stable oil volumes and $1.4 billion in annual capital expenditures in its three-year outlook.
RBC Capital Markets has reaffirmed an Outperform rating on Chord Energy's stock, albeit with a reduced price target. The analyst expressed optimism regarding the company's strategic approach to delivering shareholder value, particularly through stock buyback programs.
Chord Energy also confirmed its $3 billion borrowing base, maintained its $1.5 billion aggregate elected revolving commitment amounts, and extended loan options, ensuring continued financial flexibility until December 2024. The company has also integrated Enerplus (NYSE:ERF) assets, targeting over $200 million in annual synergies. These recent developments highlight Chord Energy's commitment to sustainable growth and operational excellence.
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