New Age Alpha Advisors LLC Acquires 8,437 Shares of Chord Energy Corporation $CHRD

Key Points

• New Age Alpha Advisors increased its Chord Energy stake by 18% in the fourth quarter, buying 8,437 additional shares and bringing its total holding to 55,284 shares worth about $5.1 million.
• Chord Energy beat earnings and revenue expectations in its latest quarterly report, posting EPS of $4.56 versus the $3.51 estimate and revenue of $1.67 billion versus $1.21 billion expected.
• The company also announced a quarterly dividend of $1.30 per share, implying an annualized yield of 3.6%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $156.69.

New Age Alpha Advisors LLC boosted its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,284 shares of the company's stock after acquiring an additional 8,437 shares during the period. New Age Alpha Advisors LLC owned 0.10% of Chord Energy worth $5,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in Chord Energy by 31.1% in the third quarter. Citigroup Inc. now owns 111,590 shares of the company's stock worth $11,089,000 after acquiring an additional 26,499 shares in the last quarter. Phocas Financial Corp. boosted its holdings in Chord Energy by 20.7% in the fourth quarter. Phocas Financial Corp. now owns 72,153 shares of the company's stock worth $6,689,000 after acquiring an additional 12,356 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Chord Energy by 40.4% in the third quarter. Picton Mahoney Asset Management now owns 50,008 shares of the company's stock worth $4,971,000 after acquiring an additional 14,395 shares in the last quarter. Unison Advisors LLC bought a new position in Chord Energy in the fourth quarter worth approximately $701,000. Finally, Quantbot Technologies LP bought a new position in Chord Energy in the third quarter worth approximately $939,000. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

CHRD stock opened at $143.98 on Tuesday. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $138.11 and its 200-day moving average is $111.83. The firm has a market capitalization of $8.11 billion, a PE 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 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company earned $4.04 earnings per share. The company's revenue for the quarter was up 37.1% on a year-over-year basis. Sell-side analysts expect that Chord Energy Corporation will post 20.53 EPS for the current fiscal year.

Chord Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHRD. Mizuho increased their price target on Chord Energy from $162.00 to $164.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. UBS Group increased their price target on Chord Energy from $176.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Scotiabank increased their price target on Chord Energy from $114.00 to $135.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Chord Energy from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Roth Mkm restated a "buy" rating and issued a $140.00 target price (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.69.

Insider Buying and Selling

In other news, EVP Michael H. Lou sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. This trade represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the sale, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,203 shares of company stock valued at $4,197,995. 0.79% of the stock is currently 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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