GW&K Investment Management LLC Decreases Holdings in Chord Energy Corporation $CHRD

GW&K Investment Management LLC cut its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 202,032 shares of the company’s stock after selling 8,806 shares during the quarter. GW&K Investment Management LLC owned 0.36% of Chord Energy worth $18,728,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CHRD. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after acquiring an additional 454 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Chord Energy during the third quarter worth approximately $56,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chord Energy during the fourth quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Chord Energy by 111.1% in the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company’s stock worth $60,000 after purchasing an additional 339 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total transaction of $207,855.00. Following the sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,276 shares of company stock worth $1,285,968. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Roth Mkm restated a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Morgan Stanley raised their target price on shares of Chord Energy from $168.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. UBS Group raised their target price on shares of Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Mizuho raised their target price on shares of Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. One 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’s stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.54.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $138.25 on Thursday. The stock has a market cap of $7.78 billion, a P/E ratio of -122.35 and a beta of 0.48. The firm’s fifty day simple moving average is $138.66 and its 200 day simple moving average is $115.81. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last announced 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. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $4.04 EPS. The company’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, research analysts predict that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s payout ratio is -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.