Rafferty Asset Management LLC Sells 12,921 Shares of Chord Energy Corporation $CHRD

Rafferty Asset Management LLC lowered its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 23.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,952 shares of the company’s stock after selling 12,921 shares during the period. Rafferty Asset Management LLC’s holdings in Chord Energy were worth $4,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Chord Energy in the 3rd quarter valued at $91,434,000. Orion Porfolio Solutions LLC increased its stake in Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after acquiring an additional 698,680 shares during the period. AQR Capital Management LLC raised its position in Chord Energy by 210.5% in the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after purchasing an additional 497,789 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Chord Energy by 22.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after purchasing an additional 180,000 shares during the period. Finally, American Century Companies Inc. lifted its stake in Chord Energy by 15.5% during the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after purchasing an additional 179,209 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $112.34 on Wednesday. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $116.26. The stock has a market capitalization of $6.39 billion, a PE ratio of 178.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The stock’s fifty day moving average is $97.77 and its 200-day moving average is $97.20.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $3.49 earnings per share. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. Equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio is presently 825.40%.

Analysts Set New Price Targets

CHRD has been the topic of several analyst reports. Royal Bank Of Canada lowered their price objective on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Jefferies Financial Group set a $99.00 price target on Chord Energy in a research report on Saturday, January 17th. Mizuho set a $148.00 price objective on Chord Energy in a research note on Friday, January 9th. William Blair initiated coverage on shares of Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating on the stock. Finally, Morgan Stanley dropped their target price on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of “Hold” and a consensus price target of $123.92.

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.