Corient Private Wealth LLC Has $1.49 Million Stake in Chord Energy Corporation $CHRD

Corient Private Wealth LLC reduced its position in Chord Energy Corporation (NASDAQ:CHRD) by 29.8% during the fourth quarter, HoldingsChannel reports. The firm owned 16,084 shares of the company’s stock after selling 6,820 shares during the period. Corient Private Wealth LLC’s holdings in Chord Energy were worth $1,491,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CHRD. WealthCollab LLC lifted its holdings in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the period. Triumph Capital Management acquired a new stake in Chord Energy during the 3rd quarter worth about $56,000. TD Private Client Wealth LLC raised its position in shares of Chord Energy by 360.3% in the 4th quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after acquiring an additional 454 shares in the last quarter. Sankala Group LLC bought a new position in shares of Chord Energy in the 4th quarter worth about $57,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Chord Energy in the 4th quarter valued at about $58,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of the firm’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 completion of the transaction, the director directly owned 20,205 shares in the company, valued at $2,762,225.55. This trade represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHRD. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. UBS Group increased their price target on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price objective 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. Finally, Morgan Stanley lowered 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. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $157.08.

Chord Energy Stock Down 1.5%

CHRD stock opened at $114.25 on Wednesday. The stock’s 50 day simple moving average is $135.21 and its 200 day simple moving average is $118.65. 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 debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market cap of $6.43 billion, a P/E ratio of -101.11 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $4.04 earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. On average, research analysts expect that Chord Energy Corporation will post 19.37 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.

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.