Massachusetts Financial Services Co. MA Purchases Shares of 920,136 Chord Energy Corporation $CHRD

Massachusetts Financial Services Co. MA acquired a new position in Chord Energy Corporation (NASDAQ:CHRD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 920,136 shares of the company’s stock, valued at approximately $91,434,000. Massachusetts Financial Services Co. MA owned 1.61% of Chord Energy as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in Chord Energy during the second quarter valued at approximately $28,000. WealthCollab LLC raised its position in shares of 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 period. Quent Capital LLC bought a new stake in shares of Chord Energy during the 3rd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Chord Energy by 160.5% in the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock worth $64,000 after buying an additional 406 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Down 0.4%

NASDAQ CHRD opened at $91.92 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. The company has a market capitalization of $5.23 billion, a P/E ratio of 35.35 and a beta of 0.92. Chord Energy Corporation has a one year low of $79.83 and a one year high of $126.30. The stock has a 50 day moving average price of $92.89 and a 200-day moving average price of $98.13.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $3.40 earnings per share. Chord Energy’s revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. Chord Energy’s payout ratio is currently 200.00%.

Analysts Set New Price Targets

A number of research firms have commented on CHRD. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday. Mizuho set a $148.00 price target on Chord Energy in a report on Friday, January 9th. UBS Group cut their price objective on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a report on Friday, January 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Chord Energy from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $126.17.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 1,250 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the transaction, the director directly owned 17,706 shares in the company, valued at $1,513,863. This represents a 7.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

About Chord Energy

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.