Renaissance Technologies LLC Has $15.38 Million Holdings in Chord Energy Corporation $CHRD

Renaissance Technologies LLC cut its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 18.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,152 shares of the company’s stock after selling 23,700 shares during the period. Renaissance Technologies LLC’s holdings in Chord Energy were worth $15,377,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Chord Energy in the first quarter worth approximately $29,000. Root Financial Partners LLC increased its holdings in Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the last quarter. WealthCollab LLC raised its position 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 acquiring an additional 145 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after acquiring an additional 84 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Up 1.5%

Shares of Chord Energy stock opened at $140.38 on Friday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $128.26 and a two-hundred day moving average price of $123.88. The stock has a market capitalization of $7.90 billion, a P/E ratio of -124.23 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $4.04 earnings per share. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. Equities analysts expect that Chord Energy Corporation will post 18.32 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a $1.30 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.7%. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Zacks Research cut shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. 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. Citigroup reduced their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Williams Trading set a $189.00 price objective on shares of Chord Energy in a report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $152.38.

Insider Buying and Selling at Chord Energy

In related news, 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 transaction, the director owned 20,205 shares in the company, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 in the last quarter. Insiders own 0.79% of the company’s stock.

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.