Chord Energy Corporation $CHRD Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP boosted its Chord Energy stake by 27.1% in Q1, buying an additional 329,565 shares and bringing its total holding to 1,547,732 shares worth about $220.1 million.
• Chord Energy’s most recent quarterly results beat expectations, with EPS of $4.56 versus $3.51 expected and revenue of $1.67 billion, up 37.1% year over year.
• The company paid a quarterly dividend of $1.30 per share, and analysts currently rate the stock a consensus “Moderate Buy” with a target price of $152.38.

Dimensional Fund Advisors LP increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,547,732 shares of the company's stock after purchasing an additional 329,565 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.73% of Chord Energy worth $220,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company's stock valued at $190,346,000 after purchasing an additional 277,588 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Chord Energy by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company's stock worth $167,743,000 after buying an additional 104,373 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Chord Energy by 18.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company's stock worth $115,305,000 after buying an additional 193,469 shares in the last quarter. Sourcerock Group LLC raised its position in shares of Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company's stock valued at $99,947,000 after buying an additional 20,916 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Chord Energy by 28.7% in the third quarter. AQR Capital Management LLC now owns 944,696 shares of the company's stock valued at $93,874,000 after buying an additional 210,471 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Insiders Place Their Bets

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the business's stock in a transaction dated 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 sale, the director owned 20,205 shares of the company's stock, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company's stock, valued at $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,276 shares of company stock worth $1,285,968 in the last quarter. 0.79% of the stock is owned by insiders.

Chord Energy Stock Performance

Shares of CHRD stock opened at $138.89 on Friday. 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 firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of -122.91 and a beta of 0.49. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95. The company has a 50 day moving average price of $129.57 and a 200 day moving average price of $122.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $4.04 EPS. Chord Energy's revenue for the quarter was up 37.1% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced 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 was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.7%. Chord Energy's dividend payout ratio (DPR) is presently -460.18%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Chord Energy in a research note on Monday, June 29th. Citigroup cut their price target on Chord Energy from $155.00 to $130.00 and set a "neutral" rating for the company in a report on Friday, July 10th. Truist Financial reduced their price target on Chord Energy from $185.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Scotiabank raised their price objective on Chord Energy from $114.00 to $135.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley lowered their price objective on Chord Energy from $175.00 to $169.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.38.

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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