Chord Energy Corporation $CHRD Shares Sold by Beddow Capital Management Inc.

Beddow Capital Management Inc. trimmed its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,535 shares of the company’s stock after selling 3,705 shares during the period. Chord Energy comprises about 1.8% of Beddow Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Beddow Capital Management Inc.’s holdings in Chord Energy were worth $4,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CHRD. Victory Capital Management Inc. raised its position in Chord Energy by 5.4% during the third quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock valued at $314,661,000 after buying an additional 163,125 shares during the period. Geode Capital Management LLC raised its position in Chord Energy by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock valued at $190,346,000 after buying an additional 277,588 shares during the period. Wellington Management Group LLP raised its position in Chord Energy by 19.9% during the third quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after buying an additional 282,746 shares during the period. Sourcerock Group LLC raised its position in Chord Energy by 2.1% during the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after buying an additional 20,916 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in Chord Energy by 22.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after buying an additional 180,000 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of CHRD stock opened at $138.27 on Tuesday. The stock has a 50 day moving average of $139.05 and a two-hundred day moving average of $115.18. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The company has a market capitalization of $7.78 billion, a P/E ratio of -122.36 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company earned $4.04 EPS. As a group, equities analysts expect that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen raised Chord Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Truist Financial cut their price target on Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Piper Sandler increased their price objective on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Mizuho increased their price objective on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Williams Trading set a $189.00 price objective on Chord Energy in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $157.54.

Insider Activity

In related news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,276 shares of company stock valued at $3,168,018. Company insiders own 0.79% of the company’s stock.

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.