AlphaQuest LLC Acquires 12,069 Shares of Chord Energy Corporation $CHRD

Key Points

• AlphaQuest LLC increased its Chord Energy stake by 43.2% in the fourth quarter, buying 12,069 additional shares and bringing its total holdings to 40,002 shares worth about $3.7 million.
• Chord Energy reported better-than-expected first-quarter results, with EPS of $4.56 versus the $3.51 consensus and revenue of $1.67 billion, up 37.1% year over year.
• The company declared a quarterly dividend of $1.30 per share, equal to an annualized yield of 3.6%, while analysts currently rate the stock a consensus Moderate Buy.

AlphaQuest LLC boosted its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 43.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,002 shares of the company's stock after purchasing an additional 12,069 shares during the period. AlphaQuest LLC owned about 0.07% of Chord Energy worth $3,708,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. WealthCollab LLC increased its holdings in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after buying an additional 145 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the third quarter valued at about $46,000. Triumph Capital Management bought a new position in shares of Chord Energy during the 3rd quarter valued at approximately $56,000. TD Private Client Wealth LLC increased its stake in shares of Chord Energy by 360.3% during the 4th quarter. TD Private Client Wealth LLC now owns 580 shares of the company's stock worth $54,000 after purchasing an additional 454 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Chord Energy by 111.1% during the 4th quarter. Farther Finance Advisors LLC now owns 644 shares of the company's stock worth $60,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $143.98 on Tuesday. The firm has a fifty day moving average price of $138.11 and a two-hundred day moving average price of $111.83. 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 Corporation has a one year low of $84.25 and a one year high of $151.95. The company has a market cap of $8.11 billion, a price-to-earnings ratio of -127.42 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $4.04 earnings per share. The business's quarterly revenue was up 37.1% on a year-over-year basis. Analysts anticipate that Chord Energy Corporation will post 20.53 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, May 20th. Chord Energy's dividend payout ratio (DPR) is -460.18%.

Insider Buying and Selling

In related news, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was 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 owned 8,921 shares in the company, valued at $1,013,960.86. This trade represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,203 shares of company stock valued at $4,197,995 in the last ninety days. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CHRD shares. Mizuho upped their price target on Chord Energy from $162.00 to $164.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Truist Financial decreased their price objective on Chord Energy from $187.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 8th. Williams Trading set a $189.00 price objective on Chord Energy in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, March 17th. Finally, Morgan Stanley lifted their target price on shares of Chord Energy from $168.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.69.

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.

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