Chord Energy Corporation $CHRD Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 119.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,579 shares of the company’s stock after buying an additional 19,896 shares during the quarter. Royal Bank of Canada owned about 0.06% of Chord Energy worth $5,202,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after acquiring an additional 277,588 shares during the last quarter. Wellington Management Group LLP grew its stake in Chord Energy by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock valued at $167,743,000 after purchasing an additional 104,373 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chord Energy by 27.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after purchasing an additional 329,565 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Chord Energy by 18.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after purchasing an additional 193,469 shares during the last quarter. Finally, Sourcerock Group LLC raised its stake in shares of Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after purchasing an additional 20,916 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director directly owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samantha Mckinney sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $136.32, for a total value of $299,904.00. Following the sale, the director owned 17,030 shares of the company’s stock, valued at $2,321,529.60. The trade was a 11.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,495 shares of company stock worth $2,113,942 over the last three months. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHRD shares. Scotiabank upped their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Finally, UBS Group increased their price objective on shares of Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.54.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $137.58 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The stock has a market capitalization of $7.53 billion, a PE ratio of 9.22 and a beta of 0.48. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $151.95. The company has a fifty day moving average of $128.00 and a two-hundred day moving average of $126.50.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm earned $1.79 EPS. The firm’s revenue for the quarter was up 128.6% on a year-over-year basis. As a group, research analysts forecast that Chord Energy Corporation will post 18.03 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, August 20th. Chord Energy’s payout ratio is 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.