Chord Energy Corporation $CHRD Position Decreased by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,789,578 shares of the company’s stock after selling 104,369 shares during the period. Vanguard Group Inc. owned about 0.10% of Chord Energy worth $536,694,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CHRD. Massachusetts Financial Services Co. MA bought a new position in shares of Chord Energy during the 3rd quarter valued at about $91,434,000. Orion Porfolio Solutions LLC boosted its position in shares of Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after purchasing an additional 698,680 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Chord Energy by 210.5% during the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after purchasing an additional 497,789 shares in the last quarter. Barclays PLC boosted its position in shares of Chord Energy by 186.2% during the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock valued at $49,801,000 after purchasing an additional 326,054 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Chord Energy by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after purchasing an additional 282,746 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CHRD shares. UBS Group upped their price objective on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Pickering Energy Partners lowered shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Citigroup upped their price objective on shares of Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. Finally, Piper Sandler upped their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.23.

Chord Energy Price Performance

CHRD stock opened at $149.25 on Tuesday. The firm has a 50-day moving average of $129.08 and a two-hundred day moving average of $106.22. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.46 billion, a PE ratio of 236.90 and a beta of 0.52. Chord Energy Corporation has a one year low of $84.25 and a one year high of $149.94.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm’s revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. On average, analysts forecast that Chord Energy Corporation will post 16.94 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio is 825.40%.

Insider Activity at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares of the company’s stock, valued at $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the completion of the sale, the director directly owned 25,181 shares of the company’s stock, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,927 shares of company stock valued at $2,912,028 over the last ninety days. 0.79% of the stock is owned by company insiders.

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.