Janus Henderson Group PLC Sells 10,744 Shares of Chord Energy Corporation $CHRD

Key Points

• Janus Henderson Group reduced its Chord Energy stake by 4.3%, selling 10,744 shares and retaining 236,291 shares valued at approximately $33.6 million. Institutional investors collectively own 97.76% of the company.
• Chord Energy reported strong quarterly results, with earnings of $4.56 per share and revenue of $1.67 billion, exceeding analyst estimates; revenue increased 37.1% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $152.38 price target. The company also pays a quarterly dividend of $1.30, equivalent to a 3.7% annualized yield.

Janus Henderson Group PLC lowered its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,291 shares of the company's stock after selling 10,744 shares during the quarter. Janus Henderson Group PLC owned 0.42% of Chord Energy worth $33,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of Chord Energy by 22.9% in the 1st quarter. California State Teachers Retirement System now owns 66,864 shares of the company's stock worth $9,507,000 after buying an additional 12,442 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Chord Energy by 119.3% in the 1st quarter. Royal Bank of Canada now owns 36,579 shares of the company's stock valued at $5,202,000 after acquiring an additional 19,896 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Chord Energy by 68.7% in the 1st quarter. Quantinno Capital Management LP now owns 31,889 shares of the company's stock valued at $4,534,000 after acquiring an additional 12,983 shares during the last quarter. SummitTX Capital L.P. purchased a new position in Chord Energy in the first quarter worth about $1,059,000. Finally, Entropy Technologies LP purchased a new position in Chord Energy in the first quarter worth about $470,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chord Energy

In other news, Director Douglas E. Brooks sold 3,500 shares of Chord Energy stock in a transaction on 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 directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Darrin J. Henke sold 1,276 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHRD. Wells Fargo & Company upped their price objective on Chord Energy from $136.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Morgan Stanley dropped their target price on Chord Energy from $175.00 to $169.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Scotiabank boosted their target price on Chord Energy from $114.00 to $135.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered Chord Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Chord Energy in a research report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $152.38.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $140.38 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $7.90 billion, a P/E ratio of -124.23 and a beta of 0.48. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The firm has a 50-day simple moving average of $128.26 and a two-hundred day simple moving average of $124.11.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts' consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $4.04 earnings per share. The company's quarterly revenue was up 37.1% on a year-over-year basis. Research analysts anticipate that Chord Energy Corporation will post 18.32 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy's dividend payout ratio is -460.18%.

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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