Goehring & Rozencwajg Associates LLC Invests $40.30 Million in Chord Energy Corporation $CHRD

Goehring & Rozencwajg Associates LLC acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the first quarter, HoldingsChannel reports. The fund acquired 283,461 shares of the company’s stock, valued at approximately $40,302,000. Chord Energy accounts for approximately 2.2% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 16th largest holding.

Several other institutional investors also recently bought and sold shares of CHRD. V Square Quantitative Management LLC purchased a new stake in Chord Energy during the first quarter worth $29,000. WealthCollab LLC lifted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Root Financial Partners LLC boosted its position in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after purchasing an additional 341 shares during the last quarter. Finally, TD Private Client Wealth LLC grew 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 last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $123.44 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. The company has a market cap of $6.95 billion, a PE ratio of -109.24 and a beta of 0.49. The business has a 50-day simple moving average of $130.56 and a two-hundred day simple moving average of $120.56. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $151.95.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.04 earnings per share. As a group, equities analysts expect that Chord Energy Corporation will post 18.13 EPS for the current fiscal 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 yield of 4.2%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is currently -460.18%.

Analyst Upgrades and Downgrades

CHRD has been the subject of several analyst reports. Williams Trading set a $189.00 price target on shares of Chord Energy in a research report on Monday, April 20th. Mizuho lifted their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research lowered shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Wells Fargo & Company increased their target price on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Finally, Scotiabank raised their target price on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.38.

Insider Buying and Selling

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction that occurred 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 owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $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. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

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.