Foster & Motley Inc. Buys Shares of 6,081 Chord Energy Corporation $CHRD

Foster & Motley Inc. bought a new stake in Chord Energy Corporation (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,081 shares of the company’s stock, valued at approximately $695,000.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Chord Energy during the 1st quarter worth $29,000. Root Financial Partners LLC boosted its stake in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after buying an additional 182 shares in the last quarter. Finally, WealthCollab LLC grew its holdings in shares of 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 in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 4,019 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the transaction, the executive vice president owned 13,560 shares of the company’s stock, valued at $1,898,400. This represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the transaction, the director directly owned 10,705 shares of the company’s stock, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 14,219 shares of company stock worth $1,927,684. Company insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $147.83 on Thursday. The business has a fifty day moving average of $128.42 and a two-hundred day moving average of $128.05. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 9.91 and a beta of 0.48. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. Chord Energy’s revenue for the quarter was up 128.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. As a group, research analysts anticipate that Chord Energy Corporation will post 18.03 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, August 20th. Chord Energy’s payout ratio is 34.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $175.00 to $163.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Roth Capital restated a “buy” rating and set a $145.00 target price on shares of Chord Energy in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.54.

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.