Fox Run Management L.L.C. Purchases 9,199 Shares of Chord Energy Corporation $CHRD

Fox Run Management L.L.C. increased its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 122.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,689 shares of the company’s stock after acquiring an additional 9,199 shares during the period. Fox Run Management L.L.C.’s holdings in Chord Energy were worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in Chord Energy by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock worth $314,661,000 after acquiring an additional 163,125 shares during the last quarter. Geode Capital Management LLC grew its position in Chord Energy by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after acquiring an additional 277,588 shares during the last quarter. Wellington Management Group LLP grew its position in Chord Energy by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock worth $169,441,000 after acquiring an additional 282,746 shares during the last quarter. Sourcerock Group LLC grew its position in Chord Energy by 2.1% during the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after acquiring an additional 20,916 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after acquiring an additional 180,000 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CHRD. Wells Fargo & Company upped their price target on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Williams Trading set a $189.00 price target on Chord Energy in a research report on Monday, April 20th. Roth Mkm reiterated a “buy” rating and issued a $140.00 price target (up from $130.00) on shares of Chord Energy in a research report on Friday, April 17th. Truist Financial reduced their price target on Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, UBS Group upped their price target on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One 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 company’s stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $157.54.

Chord Energy Trading Up 2.6%

NASDAQ CHRD opened at $138.27 on Tuesday. The firm has a market capitalization of $7.78 billion, a PE ratio of -122.36 and a beta of 0.48. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $139.05 and its two-hundred day moving average price is $115.18. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95.

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

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is currently -460.18%.

Insider Activity

In other news, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction dated 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 directly owned 20,205 shares in the company, valued at $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,276 shares of company stock valued at $3,168,018 in the last ninety days. 0.79% of the stock is owned by company insiders.

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.