Miller Howard Investments Inc. NY Grows Stock Holdings in Chord Energy Corporation $CHRD

Miller Howard Investments Inc. NY boosted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 134.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,353 shares of the company’s stock after purchasing an additional 15,706 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Chord Energy were worth $2,536,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WealthCollab LLC raised its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC purchased a new stake in Chord Energy during the third quarter valued at $32,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy during the third quarter valued at $46,000. Triumph Capital Management purchased a new stake in Chord Energy during the third quarter valued at $56,000. Finally, Farther Finance Advisors LLC raised its stake in Chord Energy by 111.1% during the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company’s stock valued at $60,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the topic of a number of recent research reports. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Mizuho set a $148.00 price target on shares of Chord Energy in a research note on Friday, January 9th. Royal Bank Of Canada reduced their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. UBS Group increased their target price on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Zacks Research raised shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Insider Activity at Chord Energy

In related news, EVP Michael H. Lou sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This trade represents a 15.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the completion of the transaction, the director directly owned 25,181 shares in the company, valued at $3,028,770.68. This represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $123.58 on Monday. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $148.41. The company has a market cap of $7.01 billion, a P/E ratio of 196.16 and a beta of 0.66. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $122.71 and its 200-day simple moving average is $103.61.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is currently 825.40%.

Chord Energy Company Profile

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.