Chord Energy Corporation $CHRD Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,152 shares of the company’s stock after selling 23,700 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Chord Energy worth $15,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHRD. Bessemer Group Inc. raised its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy during the first quarter valued at $29,000. Root Financial Partners LLC boosted its position in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the period. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% in 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. Finally, Blue Trust Inc. increased its stake in Chord Energy by 22.2% in the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after purchasing an additional 84 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Up 1.5%

Shares of Chord Energy stock opened at $140.38 on Friday. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The company has a market cap of $7.90 billion, a P/E ratio of -124.23 and a beta of 0.49. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $128.26 and a 200 day moving average price of $123.88.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.04 EPS. As a group, analysts expect that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.

Insider Buying and Selling

In other Chord Energy 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 owned 21,157 shares in the company, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,276 shares of company stock worth $1,285,968 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on CHRD shares. Roth Capital restated a “buy” rating and set a $145.00 price objective on shares of Chord Energy in a report on Wednesday, July 15th. Williams Trading set a $189.00 target price on shares of Chord Energy in a report on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Zacks Research lowered shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Eleven 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, the company has a consensus rating of “Moderate Buy” and an average target price of $152.38.

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.