Oak Thistle LLC Boosts Stock Holdings in Chord Energy Corporation (NASDAQ:CHRD)

Oak Thistle LLC boosted its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 143.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,511 shares of the company's stock after acquiring an additional 6,201 shares during the quarter. Oak Thistle LLC's holdings in Chord Energy were worth $1,185,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Chord Energy by 19.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock worth $100,011,000 after acquiring an additional 136,751 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Chord Energy by 6.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after acquiring an additional 47,649 shares during the last quarter. Woodline Partners LP grew its position in shares of Chord Energy by 16.4% in the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company's stock worth $87,569,000 after buying an additional 105,448 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Chord Energy by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock worth $83,675,000 after buying an additional 53,927 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Down 0.8%

Shares of CHRD traded down $0.88 during mid-day trading on Friday, reaching $108.72. 474,718 shares of the company's stock traded hands, compared to its average volume of 650,505. The stock has a market cap of $6.28 billion, a P/E ratio of 7.27 and a beta of 0.96. The stock's 50-day moving average is $100.37 and its two-hundred day moving average is $103.82. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $173.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the firm earned $5.10 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president owned 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHRD. Piper Sandler lifted their price objective on Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Bank of America decreased their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Royal Bank Of Canada cut their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company boosted their price target on Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $151.54.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.