First Trust Advisors LP Increases Stock Position in Chord Energy Corporation $CHRD

First Trust Advisors LP increased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 98.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 579,920 shares of the company’s stock after acquiring an additional 287,340 shares during the quarter. First Trust Advisors LP owned approximately 1.03% of Chord Energy worth $82,453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Chord Energy by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after purchasing an additional 277,588 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Chord Energy by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock worth $167,743,000 after acquiring an additional 104,373 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chord Energy by 27.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock valued at $220,078,000 after acquiring an additional 329,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Chord Energy by 18.4% during 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 boosted its holdings 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 purchasing an additional 20,916 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling at Chord Energy

In related news, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

CHRD opened at $138.36 on Friday. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -122.44 and a beta of 0.49. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $129.37 and a 200 day moving average price of $122.34.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $4.04 EPS. Chord Energy’s revenue for the quarter was up 37.1% on a year-over-year basis. Analysts forecast that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. Chord Energy’s dividend payout ratio is -460.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CHRD shares. Williams Trading set a $189.00 target price on Chord Energy in a research note on Monday, April 20th. Morgan Stanley cut their price objective on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Mizuho boosted their target price on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Roth Capital restated a “buy” rating and issued a $145.00 target price on shares of Chord Energy in a research report on Wednesday, July 15th. Finally, Citigroup dropped their price target on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average price target of $152.38.

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.