Dimensional Fund Advisors LP Grows Stock Holdings in Chord Energy Corporation $CHRD

Dimensional Fund Advisors LP lifted its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 27.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,547,732 shares of the company’s stock after acquiring an additional 329,565 shares during the period. Dimensional Fund Advisors LP’s holdings in Chord Energy were worth $220,078,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new position in Chord Energy in the first quarter valued at about $29,000. WealthCollab LLC raised its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Root Financial Partners LLC lifted its stake in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CHRD shares. Mizuho increased their target price on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Roth Capital restated a “buy” rating and issued a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th. Finally, UBS Group lowered 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 report on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $152.38.

Chord Energy Stock Performance

Shares of CHRD opened at $138.89 on Friday. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -122.91 and a beta of 0.49. 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 business’s 50 day moving average is $129.57 and its two-hundred day moving average is $122.23. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.

Chord Energy (NASDAQ:CHRD) last released 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. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.04 earnings per share. Analysts forecast that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Announces Dividend

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

Insider Transactions at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of Chord Energy 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 completion of the transaction, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director directly owned 18,705 shares of the company’s stock, valued at approximately $2,591,951.85. This represents a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,276 shares of company stock worth $1,285,968. Company 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.