Valueworks LLC Has $20.11 Million Stake in Chord Energy Corporation $CHRD

Key Points

• Valueworks LLC has increased its stake in Chord Energy Corporation (NASDAQ: CHRD) by 1.6%, making it the firm's largest position at 7.6% of its holdings, valued at approximately $20.1 million.
• Multiple hedge funds significantly boosted their positions in Chord Energy during the first quarter, with notable increases including a 5,877.8% stake raise by Caitong International Asset Management.
• Chord Energy recently announced a quarterly dividend of $1.30 per share, yielding 4.9%, and its stock is currently trading with a consensus target price of $148.92 among analysts.

Valueworks LLC lifted its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,554 shares of the company's stock after buying an additional 2,860 shares during the period. Chord Energy makes up about 7.6% of Valueworks LLC's investment portfolio, making the stock its biggest position. Valueworks LLC owned approximately 0.30% of Chord Energy worth $20,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CHRD. Encompass Capital Advisors LLC purchased a new position in Chord Energy during the fourth quarter valued at $43,745,000. Nuveen LLC purchased a new position in Chord Energy during the 1st quarter valued at about $36,837,000. Squarepoint Ops LLC boosted its position in Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after purchasing an additional 264,828 shares in the last quarter. Sourcerock Group LLC lifted its holdings in shares of Chord Energy by 214.9% during the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after purchasing an additional 214,870 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Chord Energy during the 4th quarter valued at approximately $23,136,000. 97.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Chord Energy Trading Up 0.9%

NASDAQ CHRD traded up $1.02 during trading hours on Thursday, hitting $109.33. 187,575 shares of the company's stock were exchanged, compared to its average volume of 836,287. The firm has a market capitalization of $6.26 billion, a P/E ratio of 27.82 and a beta of 0.97. The business's 50 day moving average is $104.58 and its 200-day moving average is $101.69. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $150.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. During the same quarter in the previous year, the company earned $4.69 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America dropped their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. UBS Group increased their target price on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.92.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.