King Luther Capital Management Corp Has $317,000 Holdings in Chord Energy Corporation $CHRD

King Luther Capital Management Corp lessened its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 66.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,425 shares of the company’s stock after selling 6,847 shares during the quarter. King Luther Capital Management Corp’s holdings in Chord Energy were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Chord Energy during the 1st quarter worth approximately $289,000. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 1,220 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Chord Energy during the 2nd quarter worth approximately $1,010,000. Finally, Gamco Investors INC. ET AL grew 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 worth $1,010,000 after purchasing an additional 5,428 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $131.87 on Friday. The stock’s fifty day simple moving average is $138.70 and its 200 day simple moving average is $113.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of -116.70 and a beta of 0.52. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95.

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

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $5.20 annualized dividend and a yield of 3.9%. Chord Energy’s payout ratio is currently -460.18%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of Chord Energy stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the transaction, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of Chord Energy stock in a transaction on Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the transaction, the director owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 33,203 shares of company stock worth $4,197,995. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CHRD. Mizuho lifted their price objective on Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup lifted their price objective on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. UBS Group boosted their price target on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Finally, Wall Street Zen raised Chord Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.54.

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.