Chord Energy Corporation $CHRD Stock Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 66.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,425 shares of the company’s stock after selling 6,847 shares during the period. King Luther Capital Management Corp’s holdings in Chord Energy were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC raised its stake in shares of Chord Energy by 43.2% during the 4th quarter. AlphaQuest LLC now owns 40,002 shares of the company’s stock worth $3,708,000 after purchasing an additional 12,069 shares in the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Chord Energy by 18.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company’s stock worth $5,125,000 after purchasing an additional 8,437 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Chord Energy by 122.5% during the 4th quarter. Hantz Financial Services Inc. now owns 4,357 shares of the company’s stock worth $404,000 after purchasing an additional 2,399 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Chord Energy during the 4th quarter worth about $6,489,000. Finally, LSV Asset Management raised its stake in shares of Chord Energy by 269.0% during the 4th quarter. LSV Asset Management now owns 149,385 shares of the company’s stock worth $13,848,000 after purchasing an additional 108,900 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Chord Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company raised their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. UBS Group raised their price target on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler raised their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Finally, Citigroup raised their price objective on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.54.

Chord Energy Stock Performance

CHRD opened at $131.87 on Friday. The firm has a market capitalization of $7.42 billion, a P/E ratio of -116.70 and a beta of 0.52. The stock’s 50 day moving average price is $138.70 and its two-hundred day moving average price is $113.00. 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 Corporation has a 12-month low of $84.25 and a 12-month high of $151.95.

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, beating analysts’ consensus estimates of $3.51 by $1.05. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.04 EPS. On average, equities analysts forecast that Chord Energy Corporation will post 20.53 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.9%. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This trade represents a 15.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares in the company, valued at $1,013,960.86. This trade represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 33,203 shares of company stock worth $4,197,995. Insiders own 0.79% of the company’s stock.

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.