Cwm LLC Reduces Stock Holdings in Chord Energy Corporation $CHRD

Key Points

• Cwm LLC cut its stake by 59.2% in the fourth quarter, selling 21,397 shares and leaving 14,751 shares valued at about $1.37 million.
• Chord reported $1.28 EPS for the quarter (beating the $1.17 estimate) and $1.17 billion in revenue, though revenue was down 19.6% year-over-year; the company also declared a $1.30 quarterly dividend (annualized $5.20, 3.8% yield) with a very high payout ratio of 825.4%.
• Insiders sold 23,927 shares worth roughly $2.91 million last quarter and now own 0.79% of the stock while institutional investors hold 97.76%; analysts rate the stock a "Moderate Buy" with an average target of $152.23.

Cwm LLC cut its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 59.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,751 shares of the company's stock after selling 21,397 shares during the quarter. Cwm LLC's holdings in Chord Energy were worth $1,367,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. WealthCollab LLC increased 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 valued at $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in Chord Energy in the 3rd quarter worth approximately $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy in the 3rd quarter worth approximately $46,000. Triumph Capital Management acquired a new stake in Chord Energy in the 3rd quarter worth approximately $56,000. Finally, Farther Finance Advisors LLC boosted its stake in Chord Energy by 111.1% in the 4th quarter. Farther Finance Advisors LLC now owns 644 shares of the company's stock worth $60,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $135.31 on Monday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $148.41. The company has a market capitalization of $7.67 billion, a PE ratio of 214.78 and a beta of 0.66. The business has a 50 day moving average of $125.85 and a two-hundred day moving average of $104.82. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion for 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%. The firm's revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business earned $3.49 earnings per share. As a group, analysts forecast that Chord Energy Corporation will post 15.74 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.8%. Chord Energy's dividend payout ratio (DPR) is 825.40%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CHRD shares. Truist Financial upped their target price on Chord Energy from $169.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Williams Trading set a $189.00 target price on Chord Energy in a research report on Monday, April 20th. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday, January 17th. Pickering Energy Partners downgraded Chord Energy from an "outperform" rating to a "neutral" rating in a report on Friday, January 9th. Finally, Piper Sandler upped their target price on Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. One equities 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. Based on data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $152.23.

Insiders Place Their Bets

In other news, EVP Michael H. Lou sold 15,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. This trade represents a 15.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $255,715.28. Following the sale, the director owned 25,181 shares in the company, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,927 shares of company stock valued at $2,912,028 over the last quarter. Insiders own 0.79% of the company's stock.

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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