Janus Henderson Group PLC Trims Stake in Chord Energy Corporation $CHRD

Janus Henderson Group PLC reduced its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 4.3% during the 1st quarter, HoldingsChannel reports. The firm owned 236,291 shares of the company’s stock after selling 10,744 shares during the period. Janus Henderson Group PLC’s holdings in Chord Energy were worth $33,596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CHRD. Geode Capital Management LLC boosted its stake in shares of Chord Energy by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock valued at $190,346,000 after purchasing an additional 277,588 shares in the last quarter. Wellington Management Group LLP raised its stake in Chord Energy by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock worth $167,743,000 after buying an additional 104,373 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Chord Energy by 27.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after buying an additional 329,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Chord Energy by 18.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after buying an additional 193,469 shares during the period. Finally, Sourcerock Group LLC boosted 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 valued at $99,947,000 after acquiring an additional 20,916 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company boosted their target price on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Williams Trading set a $189.00 price target on shares of Chord Energy in a research report on Monday, April 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Finally, UBS Group reduced their price objective on shares of Chord Energy from $179.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $152.38.

Chord Energy Price Performance

Shares of CHRD stock opened at $140.38 on Monday. The stock’s fifty day moving average price is $128.26 and its 200 day moving average price is $124.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -124.23 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $4.04 earnings per share. The company’s revenue was up 37.1% on a year-over-year basis. On average, research analysts expect that Chord Energy Corporation will post 18.32 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business 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 -460.18%.

Insider Buying and Selling

In other Chord Energy news, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $138.57, for a total transaction of $207,855.00. Following the sale, the director owned 18,705 shares of the company’s stock, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was 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 valued at $1,285,968 over the last quarter. 0.79% of the stock is owned by company insiders.

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.