World Investment Advisors purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,401 shares of the company’s stock, valued at approximately $408,000.
Several other institutional investors and hedge funds have also modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after buying an additional 18,137 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Chord Energy during the 1st quarter worth about $289,000. EverSource Wealth Advisors LLC boosted its stake in shares of Chord Energy by 364.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after acquiring an additional 1,220 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Chord Energy during the 2nd quarter worth about $1,010,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Chord Energy by 108.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock valued at $1,010,000 after acquiring an additional 5,428 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.
Insider Buying and Selling
In other news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the sale, the director directly owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,276 shares of company stock valued at $1,285,968. Corporate insiders own 0.79% of the company’s stock.
Chord Energy Trading Down 3.6%
Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm earned $4.04 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. Equities research analysts predict that Chord Energy Corporation will post 20.53 earnings per share for the current year.
Chord Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is currently -460.18%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on CHRD shares. Roth Mkm reissued a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Chord Energy in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th. Truist Financial lowered their price target on Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 8th. UBS Group lifted their price target on shares of Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Zacks Research cut shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.54.
View Our Latest Research Report on CHRD
Chord Energy 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.
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