Arrowstreet Capital Limited Partnership increased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 178.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 424,841 shares of the company's stock after acquiring an additional 272,349 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.75% of Chord Energy worth $60,404,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CHRD. Bessemer Group Inc. increased 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 purchasing an additional 74 shares during the period. Blue Trust Inc. grew its stake in Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company's stock worth $66,000 after buying an additional 84 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $74,000 after acquiring an additional 113 shares during the last quarter. WealthCollab LLC increased its stake 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. Finally, Root Financial Partners LLC raised its stake in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company's stock worth $33,000 after acquiring an additional 150 shares in the last quarter. 97.76% of the stock is owned by institutional investors.
Insider Buying and Selling at Chord Energy
In related news, COO Darrin J. Henke sold 1,276 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company's stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. The trade was a 14.76% 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 owned by company insiders.
Chord Energy Stock Performance
NASDAQ CHRD opened at $131.80 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market capitalization of $7.42 billion, a PE ratio of -116.64 and a beta of 0.49. The company has a 50-day simple moving average of $129.02 and a 200 day simple moving average of $122.86. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.
Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share 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 analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy's revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.04 earnings per share. On average, research analysts predict that Chord Energy Corporation will post 18.32 EPS for the current year.
Chord Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 annualized dividend and a yield of 3.9%. Chord Energy's dividend payout ratio (DPR) is -460.18%.
Analyst Upgrades and Downgrades
CHRD has been the subject of a number of research reports. Mizuho increased their price target on Chord Energy from $164.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Chord Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 9th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Wall Street Zen lowered shares of Chord Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Finally, Morgan Stanley cut their target price on Chord Energy from $175.00 to $169.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $152.38.
Read Our Latest Analysis on Chord Energy
About Chord Energy
(
Free Report)
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.
Further Reading
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