Chord Energy Corporation $CHRD Stock Holdings Reduced by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 23.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,952 shares of the company’s stock after selling 12,921 shares during the period. Rafferty Asset Management LLC owned 0.07% of Chord Energy worth $4,169,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Chord Energy by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after acquiring an additional 19,227 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Chord Energy by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after purchasing an additional 179,209 shares during the last quarter. Sourcerock Group LLC raised its holdings in shares of Chord Energy by 2.1% during the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after purchasing an additional 20,916 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Chord Energy by 22.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Chord Energy in the 3rd quarter valued at $91,434,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHRD. Jefferies Financial Group set a $99.00 target price on Chord Energy in a report on Saturday, January 17th. Wells Fargo & Company cut their price objective on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 27th. Pickering Energy Partners lowered Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Mizuho set a $148.00 price target on Chord Energy in a report on Friday, January 9th. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $123.92.

Chord Energy Price Performance

NASDAQ:CHRD opened at $112.34 on Wednesday. The stock has a market cap of $6.39 billion, a P/E ratio of 178.32 and a beta of 0.84. Chord Energy Corporation has a one year low of $79.83 and a one year high of $116.26. The company has a fifty day moving average price of $97.77 and a 200 day moving average price of $97.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the business posted $3.49 EPS. Analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 4.6%. Chord Energy’s dividend payout ratio is 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.