UBS Group AG Boosts Stock Position in Chord Energy Corporation $CHRD

Key Points

• UBS Group AG raised its position in Chord Energy by 11.4% in Q4, adding 65,804 shares to hold 644,481 shares (≈1.13% of the company) valued at about $59.7M, while institutional investors own roughly 97.8% of CHRD.
• Strong quarterly results: Chord reported EPS of $4.56 vs. $3.49 expected and revenue of $1.67B (up 37.1% year-over-year), prompting several analyst price-target increases and a consensus "Moderate Buy" with an average target of $152.23.
• The board declared a $1.30 quarterly dividend (annualized $5.20, ~3.5% yield), but the dividend payout ratio is extremely high at 825.4%, and insiders have recently sold shares (23,927 in the last 90 days), which may signal risk to sustainability.

UBS Group AG raised its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 644,481 shares of the company's stock after purchasing an additional 65,804 shares during the quarter. UBS Group AG owned 1.13% of Chord Energy worth $59,743,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CHRD. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after buying an additional 145 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Chord Energy during the 3rd quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Chord Energy during the 3rd quarter valued at about $46,000. Triumph Capital Management purchased a new position in shares of Chord Energy during the 3rd quarter valued at about $56,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Chord Energy by 111.1% during the 4th quarter. Farther Finance Advisors LLC now owns 644 shares of the company's stock valued at $60,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CHRD. Piper Sandler lifted their price objective on Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Mizuho set a $148.00 price objective on Chord Energy in a research note on Friday, January 9th. Scotiabank lifted their price objective on Chord Energy from $114.00 to $135.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada reduced their price objective on Chord Energy from $135.00 to $128.00 and set an "outperform" rating for the company in a research note on Tuesday, January 13th. Finally, UBS Group raised their price target on shares of Chord Energy from $119.00 to $142.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $152.23.

Chord Energy Stock Performance

CHRD opened at $149.16 on Wednesday. The firm has a market capitalization of $8.46 billion, a PE ratio of 236.76 and a beta of 0.52. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $150.50. The firm's 50-day moving average price is $129.95 and its 200 day moving average price is $106.64. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $1.07. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the business earned $4.04 earnings per share. Chord Energy's revenue was up 37.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chord Energy Corporation will post 16.94 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.5%. Chord Energy's dividend payout ratio (DPR) is currently 825.40%.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 1,801 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was 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 $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction 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 completion of 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 90 days, insiders sold 23,927 shares of company stock worth $2,912,028. Company insiders own 0.79% of the company's stock.

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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