Universal Beteiligungs und Servicegesellschaft mbH Reduces Stock Position in Chord Energy Corporation $CHRD

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in Chord Energy by 50.5% in Q4, leaving it with 11,354 shares worth $1.055 million after selling 11,603 shares.
• Other institutions made sizable moves — Massachusetts Financial Services bought a new stake worth about $91.4 million while Orion and AQR added large positions — and institutional investors now own 97.76% of CHRD.
• Chord beat quarterly EPS estimates ($1.28 vs. $1.17) on $1.17 billion in revenue (down 19.6% YoY) and declared a quarterly dividend of $1.30 ($5.20 annualized, 3.6% yield) despite a very high payout ratio (825.4%).

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 50.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,354 shares of the company's stock after selling 11,603 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Chord Energy were worth $1,055,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHRD. Massachusetts Financial Services Co. MA bought a new stake in shares of Chord Energy in the 3rd quarter valued at approximately $91,434,000. Orion Porfolio Solutions LLC increased its holdings in shares of Chord Energy by 6,714.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company's stock valued at $68,675,000 after acquiring an additional 698,680 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company's stock valued at $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Barclays PLC increased its holdings in shares of Chord Energy by 186.2% in the 3rd quarter. Barclays PLC now owns 501,170 shares of the company's stock valued at $49,801,000 after acquiring an additional 326,054 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Chord Energy by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company's stock valued at $169,441,000 after acquiring an additional 282,746 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $145.06 on Monday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $148.41. The firm has a market capitalization of $8.22 billion, a P/E ratio of 230.25 and a beta of 0.52. 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 business has a 50 day simple moving average of $129.08 and a 200 day simple moving average of $106.22.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $3.49 EPS. The business's revenue for the quarter was down 19.6% compared to the same quarter last year. Equities research analysts predict that Chord Energy Corporation will post 16.94 EPS for the current 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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, March 12th. Chord Energy's payout ratio is 825.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price target on Chord Energy from $135.00 to $128.00 and set an "outperform" rating for the company in a report on Tuesday, January 13th. Citigroup boosted their price target on Chord Energy from $120.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. Jefferies Financial Group set a $99.00 price target on Chord Energy in a report on Saturday, January 17th. Zacks Research upgraded Chord Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Finally, Mizuho set a $148.00 price target on Chord Energy in a report on Friday, January 9th. 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, Chord Energy currently has an average rating of "Moderate Buy" and a consensus target price of $152.23.

Insiders Place Their Bets

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares in the company, valued at approximately $10,376,243.53. The trade was a 15.35% decrease in their position. The sale 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 the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares of the company's stock, valued at $1,013,960.86. This trade represents a 35.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 23,927 shares of company stock worth $2,912,028. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.