Phocas Financial Corp. Buys 12,356 Shares of Chord Energy Corporation $CHRD

Key Points

• Phocas Financial Corp. increased its stake in Chord Energy by 20.7% in Q4, buying 12,356 shares to own 72,153 shares valued at $6.689 million (about 0.13% of the company).
• Chord declared a quarterly dividend of $1.30 (annualized $5.20) representing a 4.0% yield
• Insiders have been net sellers recently — the CAO sold 5,000 shares and a director sold 2,126, with insiders selling 23,927 shares (~$2.91M) in the last 90 days and owning just 0.79% of the stock.

Phocas Financial Corp. increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 72,153 shares of the company's stock after purchasing an additional 12,356 shares during the quarter. Phocas Financial Corp. owned 0.13% of Chord Energy worth $6,689,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Chord Energy by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company's stock valued at $314,661,000 after purchasing an additional 163,125 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Chord Energy by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company's stock valued at $169,441,000 after purchasing an additional 282,746 shares during the last quarter. Sourcerock Group LLC increased its position in shares of Chord Energy by 2.1% during the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company's stock valued at $99,947,000 after purchasing an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company's stock valued at $95,918,000 after purchasing an additional 180,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Chord Energy by 28.7% in the 3rd quarter. AQR Capital Management LLC now owns 944,696 shares of the company's stock valued at $93,874,000 after acquiring an additional 210,471 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Insiders Place Their Bets

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the sale, the director owned 25,181 shares of the company's stock, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,927 shares of company stock valued at $2,912,028. 0.79% of the stock is owned by corporate insiders.

Chord Energy Trading Down 4.2%

Shares of NASDAQ CHRD opened at $129.16 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The stock has a market capitalization of $7.32 billion, a P/E ratio of 205.02 and a beta of 0.66. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $148.41. The business has a fifty day moving average price of $121.01 and a 200 day moving average price of $103.00.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business posted $3.49 EPS. The firm's quarterly revenue was down 19.6% on a year-over-year basis. Equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a $1.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.0%. Chord Energy's dividend payout ratio (DPR) is 825.40%.

Analyst Ratings Changes

A number of research analysts have recently commented on CHRD shares. Weiss Ratings upgraded shares of Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 17th. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. Mizuho set a $148.00 price target on shares of Chord Energy in a research note on Friday, January 9th. Royal Bank Of Canada lowered their target price on Chord Energy from $135.00 to $128.00 and set an "outperform" rating for the company in a report on Tuesday, January 13th. Finally, Truist Financial upped their target price on Chord Energy from $169.00 to $187.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned 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 price target of $146.58.

Chord Energy Company 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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