Miller Value Partners LLC Grows Position in Chord Energy Corporation $CHRD

Miller Value Partners LLC boosted its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,766 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Chord Energy comprises approximately 1.9% of Miller Value Partners LLC’s portfolio, making the stock its 21st biggest holding. Miller Value Partners LLC owned about 0.10% of Chord Energy worth $5,355,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Orion Porfolio Solutions LLC increased its position in shares of Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after buying an additional 698,680 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after acquiring an additional 561,899 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Barclays PLC boosted its stake in Chord Energy by 186.2% in the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after buying an additional 326,054 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Chord Energy by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock worth $169,441,000 after buying an additional 282,746 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the sale, the director directly owned 18,705 shares of the company’s stock, valued at $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,276 shares of company stock worth $1,285,968 over the last ninety days. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

CHRD has been the topic of a number of research reports. Mizuho raised their price objective on Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Scotiabank raised their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Citigroup lifted their price objective on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley lifted their target price on Chord Energy from $168.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $157.54.

Chord Energy Trading Up 0.2%

Shares of CHRD stock opened at $126.97 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The stock has a fifty day moving average of $137.56 and a two-hundred day moving average of $117.14. The firm has a market capitalization of $7.15 billion, a PE ratio of -112.36 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $4.04 EPS. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, research analysts expect that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is currently -460.18%.

Chord Energy 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.