5,114 Shares in Chord Energy Corporation $CHRD Bought by Globeflex Capital L P

Globeflex Capital L P bought a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,114 shares of the company’s stock, valued at approximately $585,000.

Several other hedge funds have also modified their holdings of CHRD. Bessemer Group Inc. increased its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. Blue Trust Inc. lifted its stake in Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after buying an additional 84 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Chord Energy by 16.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after buying an additional 113 shares in the last quarter. WealthCollab LLC lifted its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CHRD shares. Morgan Stanley cut their price target on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $175.00 to $163.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Finally, Truist Financial cut their target price on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.54.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the completion of the sale, the executive vice president owned 13,560 shares in the company, valued at $1,898,400. This represents a 22.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Samantha Mckinney sold 2,200 shares of Chord Energy stock in a transaction on Monday, August 10th. The shares were sold at an average price of $136.32, for a total transaction of $299,904.00. Following the sale, the director directly owned 17,030 shares of the company’s stock, valued at $2,321,529.60. This trade represents a 11.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,219 shares of company stock worth $1,927,684. 0.79% of the stock is currently owned by company insiders.

Chord Energy Trading Down 2.7%

NASDAQ:CHRD opened at $140.76 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $153.00. The stock’s 50-day moving average is $129.60 and its two-hundred day moving average is $129.36. The stock has a market cap of $7.70 billion, a PE ratio of 9.43 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS. As a group, equities research analysts forecast that Chord Energy Corporation will post 18.61 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, August 20th. Chord Energy’s dividend payout ratio is currently 34.85%.

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.