Core Capital Management & Research inc. Purchases Shares of 5,847 Chord Energy Corporation $CHRD

Core Capital Management & Research inc. purchased a new position in Chord Energy Corporation (NASDAQ:CHRD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,847 shares of the company’s stock, valued at approximately $668,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. grew its stake in shares of Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the period. Versant Capital Management Inc raised its stake in Chord Energy by 330.9% during the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after acquiring an additional 182 shares during the period. V Square Quantitative Management LLC bought a new stake in Chord Energy during the 1st quarter worth approximately $29,000. WealthCollab LLC lifted its holdings in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC lifted its holdings 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. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Seaport Research Partners began coverage on shares of Chord Energy in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. Mizuho raised shares of Chord Energy to a “strong-buy” rating in a report on Friday, July 31st. Citigroup cut their price target on Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Wall Street Zen cut Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $153.46.

Insider Activity at Chord Energy

In other Chord Energy news, Director Douglas Brooks sold 8,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the transaction, the director owned 10,705 shares in the company, valued at $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Shannon Kinney sold 4,019 shares of Chord Energy stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the transaction, the executive vice president directly owned 13,560 shares of the company’s stock, valued at $1,898,400. The trade was a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,969 shares of company stock valued at $3,389,599 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

Chord Energy Stock Performance

NASDAQ CHRD opened at $149.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $153.00. The business has a 50 day simple moving average of $135.55 and a two-hundred day simple moving average of $132.88. The stock has a market capitalization of $8.18 billion, a PE ratio of 10.02 and a beta of 0.50.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The firm’s revenue was up 128.6% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. On average, research analysts predict that Chord Energy Corporation will post 19.33 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. Chord Energy’s dividend payout ratio is presently 34.85%.

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.