Picton Mahoney Asset Management Grows Position in Chord Energy Corporation $CHRD

Picton Mahoney Asset Management lifted its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 40.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,008 shares of the company’s stock after purchasing an additional 14,395 shares during the quarter. Picton Mahoney Asset Management’s holdings in Chord Energy were worth $4,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in Chord Energy during the third quarter valued at $91,434,000. Orion Porfolio Solutions LLC grew its position in shares of Chord Energy by 6,714.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after buying an additional 698,680 shares during the period. AQR Capital Management LLC increased its stake in shares of Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position 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 valued at $95,918,000 after acquiring an additional 180,000 shares during the period. Finally, American Century Companies Inc. boosted its stake in Chord Energy by 15.5% during the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after acquiring an additional 179,209 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

More Chord Energy News

Here are the key news stories impacting Chord Energy this week:

• Positive Sentiment: UBS raised its price target to $142 and kept a “buy” rating, signalling institutional confidence and providing fresh upside for the stock. Article Title
• Positive Sentiment: Piper Sandler boosted its target to $158 and maintained an “overweight” rating, implying an even larger upside and likely helping lift demand for shares. Article Title
• Neutral Sentiment: Q4 results were mixed — EPS beat estimates on lower expenses but revenues and production fell year-over-year and sales missed expectations. The beat supports valuation short-term, but weaker top-line and production trends are a caution. CHRD Q4 Earnings
• Neutral Sentiment: Short-interest reports show 0 shares and a 0.0 days-to-cover ratio — likely a reporting artifact and not a real directional driver for the stock today.
• Negative Sentiment: CAO Lara J. Kroll sold 5,000 shares (about $568k) on Mar 3, cutting her stake by ~35.9%; insider selling can sap sentiment even if not indicative of company fundamentals. Filing: SEC Filing
• Negative Sentiment: EVP Shannon Browning Kinney sold 1,801 shares (~$206k) on Mar 3, an ~8.2% reduction in her holding; further insider sales could pressure sentiment if they continue. Filing: SEC Filing

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of recent research reports. Piper Sandler upped their price objective on shares of Chord Energy from $151.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday. Scotiabank restated a “sector perform” rating and issued a $114.00 price target on shares of Chord Energy in a research note on Friday, January 16th. Mizuho set a $148.00 price objective on Chord Energy in a research note on Friday, January 9th. UBS Group boosted their target price on Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada reduced their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.82.

Chord Energy Stock Performance

Shares of CHRD opened at $119.29 on Friday. The business’s fifty day simple moving average is $98.80 and its two-hundred day simple moving average is $97.47. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $121.05. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 189.35 and a beta of 0.84.

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

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. Chord Energy’s payout ratio is 825.40%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the sale, the executive vice president owned 20,188 shares of the company’s stock, valued at $2,308,699.68. This trade represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares of the company’s stock, valued at $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.70% of the stock is currently owned by corporate 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.