Jefferies Financial Group Inc. Takes Position in Chord Energy Corporation $CHRD

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter stake in Chord Energy, buying 70,000 shares valued at about $6.49 million.
• Chord Energy reported strong quarterly results, with EPS of $4.56 versus $3.51 expected and revenue of $1.67 billion, easily topping analyst forecasts and rising 37.1% year over year.
• The company announced a quarterly dividend of $1.30 per share payable June 5, while analysts remain generally bullish with a consensus Moderate Buy rating and an average target price of $156.69.

Jefferies Financial Group Inc. acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 70,000 shares of the company's stock, valued at approximately $6,489,000. Jefferies Financial Group Inc. owned approximately 0.12% of Chord Energy as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. WealthCollab LLC raised its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after purchasing an additional 145 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the 3rd quarter worth $46,000. Triumph Capital Management purchased a new position in Chord Energy in the 3rd quarter worth $56,000. TD Private Client Wealth LLC raised its position in Chord Energy by 360.3% in the 4th quarter. TD Private Client Wealth LLC now owns 580 shares of the company's stock worth $54,000 after purchasing an additional 454 shares during the period. Finally, Farther Finance Advisors LLC raised its position 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 during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of CHRD opened at $143.98 on Tuesday. The firm's 50-day moving average price is $138.11 and its 200-day moving average price is $111.83. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of -127.42 and a beta of 0.52. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the company posted $4.04 EPS. Chord Energy's revenue was up 37.1% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $5.20 annualized dividend and a yield of 3.6%. Chord Energy's payout ratio is -460.18%.

Analysts Set New Price Targets

CHRD has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of Chord Energy from $162.00 to $164.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. UBS Group raised their price target on shares of Chord Energy from $176.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Williams Trading set a $189.00 price target on shares of Chord Energy in a report on Monday, April 20th. Finally, Citigroup raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $156.69.

Insiders Place Their Bets

In other news, CAO Lara J. Kroll sold 5,000 shares of the business's stock in a transaction that occurred on 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 directly owned 8,921 shares of the company's stock, valued at $1,013,960.86. The trade was a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 21,157 shares of the company's stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,203 shares of company stock valued at $4,197,995. 0.79% of the stock is owned by company insiders.

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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