LSV Asset Management Grows Stock Holdings in Chord Energy Corporation $CHRD

LSV Asset Management grew its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 269.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 149,385 shares of the company’s stock after purchasing an additional 108,900 shares during the period. LSV Asset Management’s holdings in Chord Energy were worth $13,848,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WealthCollab LLC grew its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy during the third quarter worth approximately $46,000. Triumph Capital Management purchased a new stake in Chord Energy during the third quarter worth approximately $56,000. TD Private Client Wealth LLC grew its stake in Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after buying an additional 454 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Chord Energy by 111.1% during the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company’s stock worth $60,000 after purchasing an additional 339 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CHRD. Wall Street Zen raised shares of Chord Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial lowered their price target on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company raised their price target on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Finally, Williams Trading set a $189.00 price target on shares of Chord Energy in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $156.69.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $143.98 on Tuesday. The company’s fifty day moving average is $138.11 and its two-hundred day moving average is $111.83. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of -127.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.04 earnings per share. Equities analysts anticipate that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s dividend payout ratio is currently -460.18%.

Insider Buying and Selling at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 33,203 shares of company stock valued at $4,197,995. Corporate insiders own 0.79% of the company’s stock.

About Chord Energy

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.