Corient Private Wealth LLC Has $1.49 Million Stake in Chord Energy Corporation $CHRD

Corient Private Wealth LLC reduced its position in Chord Energy Corporation (NASDAQ:CHRD) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,084 shares of the company’s stock after selling 6,820 shares during the quarter. Corient Private Wealth LLC’s holdings in Chord Energy were worth $1,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Hsbc Holdings PLC lifted its holdings in shares of Chord Energy by 169.1% during the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock worth $15,138,000 after acquiring an additional 103,202 shares during the period. Sankala Group LLC bought a new position in Chord Energy in the fourth quarter valued at approximately $57,000. MidFirst Bank bought a new position in Chord Energy in the fourth quarter valued at approximately $115,000. Invesco Ltd. raised its position in Chord Energy by 23.6% during the fourth quarter. Invesco Ltd. now owns 318,448 shares of the company’s stock valued at $29,520,000 after purchasing an additional 60,806 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in Chord Energy during the fourth quarter valued at approximately $1,381,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the transaction, the director directly owned 18,705 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,276 shares of company stock valued at $1,285,968 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Citigroup upped their price objective on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Scotiabank lifted their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler raised their price target on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $157.08.

Chord Energy Stock Down 1.5%

Shares of CHRD opened at $114.25 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of -101.11 and a beta of 0.48. The stock has a fifty day moving average of $135.21 and a 200-day moving average of $118.65.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.04 earnings per share. As a group, sell-side analysts anticipate that Chord Energy Corporation will post 19.37 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. Chord Energy’s payout ratio is currently -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.