423,338 Shares in Chord Energy Corporation $CHRD Bought by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 423,338 shares of the company’s stock, valued at approximately $60,190,000. Jennison Associates LLC owned approximately 0.75% of Chord Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Chord Energy in the 1st quarter valued at approximately $29,000. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Chord Energy by 213.1% in the 4th 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. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of recent analyst reports. Scotiabank upped their price target on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Mizuho boosted their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Williams Trading set a $189.00 target price on Chord Energy in a research report on Monday, April 20th. Finally, Truist Financial reduced their target price 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. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.38.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by corporate insiders.

Chord Energy Stock Performance

CHRD opened at $128.10 on Monday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.21 billion, a PE ratio of -113.36 and a beta of 0.49. The firm has a 50 day moving average of $130.12 and a two-hundred day moving average of $121.06.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $4.04 EPS. On average, analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.1%. Chord Energy’s payout ratio is currently -460.18%.

About Chord Energy

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.