Oak Thistle LLC Buys 12,736 Shares of Chord Energy Corporation $CHRD

Oak Thistle LLC increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 150.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,208 shares of the company’s stock after purchasing an additional 12,736 shares during the quarter. Oak Thistle LLC’s holdings in Chord Energy were worth $1,966,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. WealthCollab LLC grew its holdings in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in Chord Energy during the 3rd quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in Chord Energy during the 3rd quarter valued at about $46,000. Triumph Capital Management bought a new position in Chord Energy during the 3rd quarter valued at about $56,000. Finally, Larson Financial Group LLC grew its holdings in Chord Energy by 43.0% during the 3rd quarter. Larson Financial Group LLC now owns 791 shares of the company’s stock valued at $79,000 after purchasing an additional 238 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Insider Activity at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the sale, the executive vice president directly owned 20,188 shares of the company’s stock, valued at $2,308,699.68. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,927 shares of company stock valued at $2,912,028 over the last 90 days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHRD. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings upgraded shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Truist Financial began coverage on shares of Chord Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $169.00 price target on the stock. Scotiabank upgraded shares of Chord Energy to a “hold” rating in a report on Friday, March 27th. Finally, Citigroup upped their price target on shares of Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average price target of $145.08.

Chord Energy Price Performance

Shares of CHRD stock opened at $134.93 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The company has a market capitalization of $7.65 billion, a P/E ratio of 214.17 and a beta of 0.66. The company’s 50-day simple moving average is $118.27 and its two-hundred day simple moving average is $102.17. Chord Energy Corporation has a one year low of $79.83 and a one year high of $148.41.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 EPS. As a group, equities analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, March 12th. Chord Energy’s dividend payout ratio is currently 825.40%.

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.