Victory Capital Management Inc. Increases Stake in Chord Energy Corporation $CHRD

Victory Capital Management Inc. grew its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,166,564 shares of the company’s stock after purchasing an additional 163,125 shares during the quarter. Victory Capital Management Inc. owned approximately 5.57% of Chord Energy worth $314,661,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WealthCollab LLC lifted its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in Chord Energy in the 3rd quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after purchasing an additional 196 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Chord Energy during the 3rd quarter worth approximately $46,000. Finally, Allworth Financial LP grew its position in shares of Chord Energy by 160.5% in the second quarter. Allworth Financial LP now owns 659 shares of the company’s stock valued at $64,000 after purchasing an additional 406 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of CHRD stock opened at $112.34 on Wednesday. Chord Energy Corporation has a one year low of $79.83 and a one year high of $116.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The firm’s 50 day moving average price is $97.77 and its 200-day moving average price is $97.20. The firm has a market cap of $6.39 billion, a P/E ratio of 178.32 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the business posted $3.49 earnings per share. As a group, equities research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be issued a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. Chord Energy’s payout ratio is 825.40%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHRD shares. Citigroup lowered Chord Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $97.00 in a research note on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating and set a $114.00 price target on shares of Chord Energy in a research report on Friday, January 16th. Zacks Research cut shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Piper Sandler decreased their target price on shares of Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Finally, William Blair started coverage on shares of Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Hold” and a consensus price target of $123.92.

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.