Fox Run Management L.L.C. Invests $744,000 in Chord Energy Corporation $CHRD

Fox Run Management L.L.C. acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 7,490 shares of the company’s stock, valued at approximately $744,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHRD. Massachusetts Financial Services Co. MA purchased a new position in shares of Chord Energy in the third quarter worth $91,434,000. Wedge Capital Management L L P NC acquired a new position in shares of Chord Energy in the 3rd quarter valued at $13,092,000. AlphaQuest LLC increased its position in shares of Chord Energy by 1,576.7% in the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after acquiring an additional 26,267 shares during the period. Creative Planning raised its stake in Chord Energy by 37.5% in the 2nd quarter. Creative Planning now owns 21,111 shares of the company’s stock worth $2,045,000 after acquiring an additional 5,754 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in Chord Energy by 22.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock worth $20,792,000 after acquiring an additional 39,980 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CHRD shares. Scotiabank reiterated a “sector perform” rating and set a $114.00 price target on shares of Chord Energy in a research note on Friday, January 16th. Morgan Stanley dropped their target price on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, January 21st. Finally, Zacks Research cut shares of Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.92.

Chord Energy Price Performance

NASDAQ:CHRD opened at $108.37 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 172.02 and a beta of 0.92. The company has a 50 day moving average price of $96.89 and a 200-day moving average price of $97.11. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $115.37.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.68%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. Equities research analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Thursday, March 12th. Chord Energy’s payout ratio is currently 825.40%.

Chord Energy Company 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.