World Investment Advisors Makes New Investment in Chord Energy Corporation $CHRD

World Investment Advisors purchased a new position in Chord Energy Corporation (NASDAQ:CHRD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,401 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth purchased a new position in Chord Energy during the first quarter worth approximately $289,000. EverSource Wealth Advisors LLC raised its stake in Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after purchasing an additional 1,220 shares during the period. Jump Financial LLC purchased a new position in Chord Energy during the second quarter worth approximately $1,010,000. Finally, Gamco Investors INC. ET AL raised its stake in Chord Energy by 108.5% during the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho increased their price target on shares of Chord Energy from $162.00 to $164.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup increased their price target on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Piper Sandler increased their price target on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Company increased their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.15.

Insider Buying and Selling at Chord Energy

In related news, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction 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 approximately $1,013,960.86. This trade represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the sale, the executive vice president directly owned 20,188 shares of the company’s stock, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 33,203 shares of company stock worth $4,197,995. 0.79% of the stock is currently owned by insiders.

Chord Energy Stock Performance

Shares of CHRD stock opened at $145.55 on Thursday. The company’s fifty day simple moving average is $136.83 and its 200-day simple moving average is $110.70. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market cap of $8.19 billion, a PE ratio of -128.81 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.04 EPS. As a group, equities research analysts anticipate that Chord Energy Corporation will post 19.11 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued 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 of this dividend is Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Chord Energy 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.