GW&K Investment Management LLC Lowers Holdings in Chord Energy Corporation $CHRD

GW&K Investment Management LLC lessened its stake in Chord Energy Corporation (NASDAQ:CHRD) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,032 shares of the company’s stock after selling 8,806 shares during the quarter. GW&K Investment Management LLC’s holdings in Chord Energy were worth $18,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Chord Energy by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after buying an additional 18,137 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Chord Energy in the first quarter worth approximately $289,000. EverSource Wealth Advisors LLC lifted its stake in shares of Chord Energy by 364.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after buying an additional 1,220 shares in the last quarter. Jump Financial LLC bought a new position in shares of Chord Energy in the second quarter worth approximately $1,010,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Chord Energy by 108.5% in the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after buying an additional 5,428 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

NASDAQ CHRD opened at $138.25 on Thursday. The company has a 50-day moving average price of $138.66 and a 200-day moving average price of $115.81. The firm has a market capitalization of $7.78 billion, a P/E ratio of -122.35 and a beta of 0.48. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.04 EPS. Equities research analysts anticipate that Chord Energy Corporation will post 20.53 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio is currently -460.18%.

Analyst Ratings Changes

CHRD has been the topic of several recent analyst reports. Piper Sandler increased their target price on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Citigroup increased their target price on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. Williams Trading set a $189.00 target price on Chord Energy in a research note on Monday, April 20th. Mizuho increased their target price on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, UBS Group upped their target price on shares of Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.54.

Insider Activity at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the sale, the director directly owned 18,705 shares of the company’s stock, valued at $2,591,951.85. This represents a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock valued at $1,285,968 over the last three months. 0.79% of the stock is currently owned by 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.