Assenagon Asset Management S.A. Makes New $550,000 Investment in Chord Energy Corporation $CHRD

Assenagon Asset Management S.A. purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 5,534 shares of the company’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Chord Energy by 7.3% during the second quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock valued at $137,000 after buying an additional 96 shares in the last quarter. Lynx Investment Advisory lifted its holdings in Chord Energy by 3.6% in the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock valued at $276,000 after acquiring an additional 99 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock valued at $854,000 after acquiring an additional 107 shares during the last quarter. WealthCollab LLC boosted its position 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 purchasing an additional 145 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research reports. William Blair began coverage on shares of Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating on the stock. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. UBS Group decreased their target price on Chord Energy from $130.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Morgan Stanley set a $123.00 target price on Chord Energy in a research report on Thursday, November 20th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.31.

Chord Energy Stock Up 0.1%

Chord Energy stock opened at $90.91 on Friday. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $129.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. The firm has a market cap of $5.17 billion, a PE ratio of 34.96 and a beta of 0.92. The firm’s 50 day moving average price is $92.05 and its two-hundred day moving average price is $99.40.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $3.40 EPS. Chord Energy’s revenue was up 17.0% on a year-over-year basis. On average, research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. Chord Energy’s payout ratio is 200.00%.

Insiders Place Their Bets

In other news, Director Samantha Holroyd purchased 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $85.50 per share, with a total value of $106,875.00. Following the purchase, the director directly owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. This trade represents a 7.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

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.