Kestra Private Wealth Services LLC Buys New Position in Chord Energy Corporation $CHRD

Kestra Private Wealth Services LLC purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,355 shares of the company’s stock, valued at approximately $1,188,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. WealthCollab LLC grew its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares during the last quarter. Blue Trust Inc. grew its position in Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after purchasing an additional 84 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Chord Energy by 213.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. Triumph Capital Management acquired a new position in Chord Energy in the third quarter valued at $56,000. Finally, TD Private Client Wealth LLC increased its stake in Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock valued at $54,000 after purchasing an additional 454 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CHRD. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price objective (up from $130.00) on shares of Chord Energy in a research note on Friday, April 17th. Scotiabank increased their price objective on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research note on Monday. Finally, UBS Group boosted their target price on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.08.

Chord Energy Stock Performance

NASDAQ CHRD opened at $114.25 on Wednesday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of -101.11 and a beta of 0.48. The business’s 50 day moving average is $135.21 and its two-hundred day moving average is $118.65. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $4.04 EPS. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. Research analysts expect that Chord Energy Corporation will post 19.37 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s payout ratio is presently -460.18%.

Insiders Place Their Bets

In other news, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,276 shares of company stock worth $1,285,968. Corporate insiders own 0.79% of the company’s stock.

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.