AQR Capital Management LLC Buys 88,490 Shares of Chord Energy Corporation $CHRD

Key Points

• AQR Capital Management LLC increased its holdings in Chord Energy Corporation by 59.8% in Q1, owning approximately 236,436 shares valued at $26.65 million.
• The company's stock has recently traded down 1.6%, reaching $104.87, and reported a market cap of $6 billion with a price-to-earnings ratio of 26.68.
• Chord Energy announced a quarterly dividend of $1.30 per share, yielding 5.0%, but has a payout ratio of 132.32%.

AQR Capital Management LLC lifted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 236,436 shares of the company's stock after purchasing an additional 88,490 shares during the period. AQR Capital Management LLC owned about 0.41% of Chord Energy worth $26,651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Ameriprise Financial Inc. grew its holdings in shares of Chord Energy by 8.6% during the 4th quarter. Ameriprise Financial Inc. now owns 108,561 shares of the company's stock valued at $12,693,000 after purchasing an additional 8,621 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Chord Energy in the 4th quarter worth $4,721,000. Baird Financial Group Inc. grew its holdings in Chord Energy by 4.3% in the 4th quarter. Baird Financial Group Inc. now owns 6,338 shares of the company's stock worth $741,000 after acquiring an additional 259 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in Chord Energy by 5,923.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 106,312 shares of the company's stock worth $12,430,000 after acquiring an additional 104,547 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Chord Energy by 5.1% in the 4th quarter. Janus Henderson Group PLC now owns 301,852 shares of the company's stock worth $35,292,000 after acquiring an additional 14,769 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wells Fargo & Company raised their price target on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. UBS Group raised their price target 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. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, Citigroup raised their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Chord Energy Stock Down 0.7%

NASDAQ CHRD traded down $0.71 during trading hours on Friday, reaching $104.16. 927,389 shares of the company's stock traded hands, compared to its average volume of 777,978. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $140.15. The firm has a market cap of $5.96 billion, a PE ratio of 26.50 and a beta of 0.97. The firm has a 50-day simple moving average of $105.93 and a 200 day simple moving average of $101.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90.

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

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

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.