Royce & Associates LP Grows Stock Position in Chord Energy Corporation $CHRD

Royce & Associates LP boosted its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 91,941 shares of the company’s stock after acquiring an additional 5,426 shares during the period. Royce & Associates LP’s holdings in Chord Energy were worth $9,136,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Chord Energy by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after buying an additional 19,227 shares during the period. American Century Companies Inc. raised its holdings in Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after acquiring an additional 179,209 shares in the last quarter. Sourcerock Group LLC lifted its stake in 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 acquiring an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after acquiring an additional 180,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Chord Energy during the 3rd quarter worth approximately $91,434,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHRD. Morgan Stanley reduced their price objective on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Piper Sandler dropped their target price on Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Wells Fargo & Company decreased their price target on Chord Energy from $113.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, January 27th. Weiss Ratings cut Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Scotiabank reiterated a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a report on Friday, January 16th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.92.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $112.34 on Wednesday. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $116.26. The firm has a market capitalization of $6.39 billion, a P/E ratio of 178.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The company’s fifty day moving average price is $97.77 and its 200 day moving average price is $97.20.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data 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. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $3.49 earnings per share. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is currently 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.