Aventail Capital Group LP Trims Holdings in Chord Energy Corporation $CHRD

Key Points

• Aventail Capital Group LP cut its Chord Energy stake by 75.2% in the fourth quarter, leaving it with 88,867 shares worth about $8.24 million.
• Chord Energy reported better-than-expected quarterly results, posting EPS of $4.56 versus estimates of $3.51 and revenue of $1.67 billion, up 37.1% year over year.
• The company also paid a quarterly dividend of $1.30 per share, implying an annualized yield of about 4.1%, while analysts maintain a Moderate Buy consensus with a target price of $157.54.

Aventail Capital Group LP reduced its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 75.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 88,867 shares of the company's stock after selling 269,330 shares during the quarter. Aventail Capital Group LP owned about 0.16% of Chord Energy worth $8,238,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Chord Energy by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company's stock valued at $13,973,000 after buying an additional 18,137 shares during the period. Focus Partners Wealth acquired a new position in shares of Chord Energy during the 1st quarter worth $289,000. EverSource Wealth Advisors LLC grew its stake in shares of Chord Energy by 364.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company's stock worth $151,000 after purchasing an additional 1,220 shares during the period. Jump Financial LLC acquired a new position in shares of Chord Energy during the 2nd quarter worth $1,010,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of Chord Energy by 108.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company's stock worth $1,010,000 after purchasing an additional 5,428 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Up 0.2%

Shares of CHRD stock opened at $126.97 on Thursday. The firm has a market cap of $7.15 billion, a P/E ratio of -112.36 and a beta of 0.48. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm's 50-day simple moving average is $137.56 and its 200-day simple moving average is $117.14.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating 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 analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $4.04 earnings per share. Chord Energy's revenue for the quarter was up 37.1% compared to the same quarter last year. As a group, equities analysts forecast that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.1%. Chord Energy's dividend payout ratio (DPR) is presently -460.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHRD shares. Mizuho increased their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Scotiabank increased their price objective on shares of Chord Energy from $114.00 to $135.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of Chord Energy in a research note on Friday, June 12th. Finally, Williams Trading set a $189.00 price objective on shares of Chord Energy in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $157.54.

Insider Buying and Selling

In other news, COO Darrin J. Henke sold 1,276 shares of the firm'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 completion of the sale, the chief operating officer owned 21,157 shares of the company's stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas E. Brooks sold 1,500 shares of the firm's stock in a transaction that occurred on 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 directly owned 18,705 shares of the company's stock, valued at $2,591,951.85. The trade was a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,276 shares of company stock valued at $1,285,968 in the last three months. Corporate insiders own 0.79% of the company's stock.

About Chord Energy

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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