Seneca House Advisors Purchases New Shares in Chord Energy Corporation $CHRD

Seneca House Advisors acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,085 shares of the company’s stock, valued at approximately $3,067,000. Chord Energy comprises approximately 1.1% of Seneca House Advisors’ portfolio, making the stock its 27th biggest position. Seneca House Advisors owned approximately 0.06% of Chord Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of CHRD. Orion Porfolio Solutions LLC grew its position in Chord Energy by 6,714.2% in the 2nd 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of Chord Energy by 85.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock worth $112,927,000 after buying an additional 561,899 shares in the last quarter. AQR Capital Management LLC grew 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 worth $71,110,000 after buying an additional 497,789 shares in the last quarter. Barclays PLC grew 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 worth $49,801,000 after buying an additional 326,054 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 worth $169,441,000 after buying 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 research firms have recently issued reports on CHRD. Roth Mkm reissued a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Chord Energy in a research report on Friday, April 17th. Piper Sandler increased their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Williams Trading set a $189.00 price objective on Chord Energy in a research report on Monday, April 20th. Morgan Stanley raised their price objective on Chord Energy from $168.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, UBS Group raised their price objective on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.54.

Chord Energy Price Performance

Shares of CHRD stock opened at $126.71 on Wednesday. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The stock’s 50-day moving average is $137.87 and its 200 day moving average is $116.90. The company has a market cap of $7.13 billion, a P/E ratio of -112.13 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company earned $4.04 earnings per share. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. Research analysts predict that Chord Energy Corporation will post 20.53 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a $1.30 dividend. 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 dividend payout ratio (DPR) is -460.18%.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 1,500 shares of the business’s 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 sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is currently owned by company insiders.

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.