Chord Energy Corporation $CHRD Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake by 1.8% to 5,789,578 shares — still owning 10.18% of Chord Energy (about $536.7M); overall institutional ownership stands at 97.76%.
• Insiders sold 23,927 shares worth $2.91M over the last quarter (including CAO and a director), leaving corporate insiders with just 0.79% ownership.
• Chord beat quarterly estimates with $1.28 EPS and $1.17B revenue despite a 19.6% YoY revenue decline, announced a $1.30 quarterly dividend (annualized $5.20, 3.5% yield) with a very high payout ratio of 825.4%, and analysts have been raising price targets to leave a consensus rating of "Moderate Buy."

Vanguard Group Inc. cut its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,789,578 shares of the company's stock after selling 104,369 shares during the period. Vanguard Group Inc. owned 10.18% of Chord Energy worth $536,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthCollab LLC raised its holdings in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after purchasing an additional 145 shares during the period. Quent Capital LLC acquired a new stake in shares of Chord Energy during the third quarter worth $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Chord Energy during the third quarter worth $46,000. Triumph Capital Management acquired a new stake in shares of Chord Energy during the third quarter worth $56,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Chord Energy by 111.1% during the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company's stock worth $60,000 after purchasing an additional 339 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the transaction, the director owned 25,181 shares of the company's stock, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $149.25 on Tuesday. The firm has a 50-day moving average price of $129.08 and a 200 day moving average price of $106.22. The firm has a market capitalization of $8.46 billion, a PE ratio of 236.90 and a beta of 0.52. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $149.94.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. Chord Energy's revenue was down 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.49 EPS. On average, sell-side analysts anticipate that Chord Energy Corporation will post 16.94 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, March 12th. Chord Energy's dividend payout ratio is currently 825.40%.

Analyst Ratings Changes

A number of brokerages have weighed in on CHRD. Citigroup increased their target price on shares of Chord Energy from $120.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 31st. Zacks Research raised shares of Chord Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Piper Sandler increased their target price on shares of Chord Energy from $158.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Truist Financial increased their price objective on shares of Chord Energy from $169.00 to $187.00 and gave the stock a "buy" rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $152.23.

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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