LSV Asset Management Raises Stake in Chord Energy Corporation $CHRD

Key Points

• LSV Asset Management sharply increased its stake in Chord Energy by 269% in the fourth quarter, bringing its holding to 149,385 shares worth about $13.8 million.
• Chord Energy reported better-than-expected first-quarter earnings of $4.56 per share on revenue of $1.67 billion, topping analyst estimates and rising 37.1% year over year.
• The company announced a quarterly dividend of $1.30 per share, implying a 3.6% annual yield, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $156.69.

LSV Asset Management boosted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 269.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 149,385 shares of the company's stock after purchasing an additional 108,900 shares during the period. LSV Asset Management owned approximately 0.26% of Chord Energy worth $13,848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthCollab LLC grew its position in Chord Energy by 90.6% during 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 last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy during the 3rd quarter worth $46,000. TD Private Client Wealth LLC grew its position in Chord Energy by 360.3% during 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 last quarter. Triumph Capital Management purchased a new position in Chord Energy during the 3rd quarter worth $56,000. Finally, Farther Finance Advisors LLC grew its position in Chord Energy by 111.1% during 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 last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $143.98 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $138.11 and a two-hundred day moving average price of $111.83. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $151.95. The company has a market capitalization of $8.11 billion, a P/E ratio of -127.42 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm posted $4.04 EPS. The firm's revenue for the quarter was up 37.1% on a year-over-year basis. As a group, research analysts expect that Chord Energy Corporation will post 20.53 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm 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 dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, May 20th. Chord Energy's dividend payout ratio (DPR) is -460.18%.

Insider Activity

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president directly owned 20,188 shares in the company, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the sale, the chief accounting officer owned 8,921 shares of the company's stock, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,203 shares of company stock worth $4,197,995 in the last three months. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHRD. Mizuho raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Morgan Stanley raised their price objective on shares of Chord Energy from $168.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. Finally, Truist Financial reduced their target price on shares of Chord Energy from $187.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $156.69.

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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