Allspring Global Investments Holdings LLC Grows Position in Chord Energy Corporation $CHRD

Allspring Global Investments Holdings LLC increased its position in Chord Energy Corporation (NASDAQ:CHRD) by 1.0% in the first quarter, HoldingsChannel.com reports. The fund owned 734,416 shares of the company’s stock after buying an additional 7,250 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chord Energy were worth $100,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Chord Energy by 17.1% in 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 valued at $13,973,000 after acquiring an additional 18,137 shares during the period. Focus Partners Wealth purchased a new position in shares of Chord Energy during the 1st quarter valued at approximately $289,000. EverSource Wealth Advisors LLC grew its stake in Chord Energy by 364.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after acquiring an additional 1,220 shares during the period. Jump Financial LLC acquired a new stake in shares of Chord Energy in the second quarter valued at about $1,010,000. Finally, Gamco Investors INC. ET AL grew its position in shares of Chord Energy by 108.5% in the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock valued at $1,010,000 after purchasing an additional 5,428 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity

In other Chord Energy news, 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 sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This represents 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 accessible through the SEC website. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. This trade represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 over the last quarter. Insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $128.10 on Friday. The company has a market cap of $7.21 billion, a price-to-earnings ratio of -113.36 and a beta of 0.49. The stock’s 50-day moving average is $130.12 and its two-hundred day moving average is $120.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The firm had revenue of $1.67 billion during 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 revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.04 EPS. Analysts forecast that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.1%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio is presently -460.18%.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. UBS Group decreased their target price on shares of Chord Energy from $179.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.38.

About Chord Energy

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.