Seneca House Advisors Acquires New Position in Chord Energy Corporation $CHRD

Seneca House Advisors acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,085 shares of the company’s stock, valued at approximately $3,067,000. Chord Energy comprises about 1.1% of Seneca House Advisors’ investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Chord Energy in the third quarter worth about $56,000. TD Private Client Wealth LLC raised its stake in shares of Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after purchasing an additional 454 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chord Energy in the fourth quarter worth about $58,000. Finally, Farther Finance Advisors LLC raised its stake 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.

Chord Energy Stock Down 0.7%

Shares of CHRD stock opened at $126.71 on Wednesday. The stock has a 50 day moving average of $137.87 and a 200 day moving average of $116.90. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.13 billion, a P/E ratio of -112.13 and a beta of 0.48. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $151.95.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.51 by $1.05. The company 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%.Chord Energy’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period last year, the business earned $4.04 earnings per share. As a group, sell-side analysts expect that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors 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 (DPR) is currently -460.18%.

Insider Activity at Chord Energy

In related news, Director Douglas E. Brooks sold 3,500 shares of Chord Energy stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. This trade represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial reduced their price objective 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. Scotiabank raised their price objective on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Williams Trading set a $189.00 price objective on Chord Energy in a research note on Monday, April 20th. Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company raised their price objective on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.54.

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.