Globeflex Capital L P Purchases New Position in Chord Energy Corporation $CHRD

Globeflex Capital L P purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,114 shares of the company’s stock, valued at approximately $585,000.

A number of other hedge funds have also recently added to or reduced their stakes in CHRD. New Age Alpha Advisors LLC grew its position in Chord Energy by 18.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company’s stock worth $5,125,000 after acquiring an additional 8,437 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Chord Energy by 8.4% during the 1st quarter. Bank of America Corp DE now owns 238,068 shares of the company’s stock valued at $33,849,000 after purchasing an additional 18,399 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Chord Energy during the 4th quarter valued at $6,489,000. LSV Asset Management raised its holdings in shares of Chord Energy by 269.0% during the 4th quarter. LSV Asset Management now owns 149,385 shares of the company’s stock valued at $13,848,000 after purchasing an additional 108,900 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its stake in shares of Chord Energy by 122.8% in the 4th quarter. Fox Run Management L.L.C. now owns 16,689 shares of the company’s stock valued at $1,547,000 after purchasing an additional 9,199 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $175.00 to $163.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Truist Financial cut their target price on Chord Energy from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Wall Street Zen cut Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. UBS Group upped their price target on Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.54.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $140.76 on Wednesday. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $153.00. The firm’s fifty day simple moving average is $129.60 and its 200 day simple moving average is $129.36. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.70 billion, a PE ratio of 9.43 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business’s revenue was up 128.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. On average, sell-side analysts anticipate that Chord Energy Corporation will post 18.61 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. Chord Energy’s payout ratio is presently 34.85%.

Insider Buying and Selling

In related news, Director Douglas E. Brooks sold 8,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the transaction, the director owned 10,705 shares of the company’s stock, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon Browning Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. The trade was a 22.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,219 shares of company stock valued at $1,927,684. Insiders own 0.79% of the company’s stock.

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.