Woodline Partners LP Has $42.84 Million Position in Chord Energy Corporation $CHRD

Key Points

• Woodline Partners LP significantly reduced its stake in Chord Energy Corporation by selling 368,921 shares, resulting in an ownership of 0.66% of the company, valued at approximately $42.8 million.
• Chord Energy recently reported $1.79 EPS for the quarter, missing analysts' expectations, with a total revenue of $1.18 billion, reflecting a year-over-year increase of 5.3%.
• The company declared a quarterly dividend of $1.30, representing an annualized dividend of $5.20 and a yield of 5.1%, although the dividend payout ratio is notably high at 132.32%.

Woodline Partners LP lowered its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 49.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 380,045 shares of the company's stock after selling 368,921 shares during the quarter. Woodline Partners LP owned 0.66% of Chord Energy worth $42,839,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Chord Energy by 3.7% during the 1st quarter. American Century Companies Inc. now owns 1,157,870 shares of the company's stock valued at $130,515,000 after acquiring an additional 41,797 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Chord Energy by 6.4% in the first 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. Bank of New York Mellon Corp boosted its position in shares of Chord Energy by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock worth $83,675,000 after acquiring an additional 53,927 shares during the last quarter. Palo Duro Investment Partners LP raised its holdings in Chord Energy by 3.1% in the first quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company's stock valued at $77,742,000 after buying an additional 20,940 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Chord Energy by 9.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company's stock valued at $69,744,000 after buying an additional 52,375 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CHRD shares. Bank of America dropped their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Citigroup upped their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. UBS Group boosted their price target on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Mizuho lowered their target price on Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $147.33.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

Chord Energy Trading Down 1.4%

Chord Energy stock traded down $1.44 during mid-day trading on Monday, hitting $102.73. The stock had a trading volume of 195,394 shares, compared to its average volume of 839,316. The stock has a 50-day simple moving average of $105.93 and a two-hundred day simple moving average of $101.08. The stock has a market capitalization of $5.88 billion, a PE ratio of 26.11 and a beta of 0.97. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $140.15. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. Chord Energy's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.69 EPS. As a group, sell-side analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a $1.30 dividend. The ex-dividend date was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.1%. Chord Energy's payout ratio is presently 132.32%.

About Chord Energy

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.