New Age Alpha Advisors LLC Raises Stock Holdings in Chord Energy Corporation $CHRD

New Age Alpha Advisors LLC lifted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 18.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,284 shares of the company’s stock after acquiring an additional 8,437 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Chord Energy were worth $5,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthCollab LLC increased its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy in the third quarter worth $46,000. TD Private Client Wealth LLC increased its position in Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after buying an additional 454 shares during the last quarter. Triumph Capital Management purchased a new stake in Chord Energy in the third quarter worth $56,000. Finally, Farther Finance Advisors LLC increased its position in Chord Energy by 111.1% in the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company’s stock worth $60,000 after buying an additional 339 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction 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 completion of the transaction, the executive vice president directly owned 82,699 shares in the company, valued at approximately $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction 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 transaction, the chief accounting officer owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,203 shares of company stock valued at $4,197,995 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $143.98 on Tuesday. The stock has a market cap of $8.11 billion, a PE ratio of -127.42 and a beta of 0.52. 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 stock has a fifty day moving average of $138.11 and a 200-day moving average of $111.83.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.04 earnings per share. Equities research analysts anticipate that Chord Energy Corporation will post 20.53 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s payout ratio is -460.18%.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of recent research reports. Piper Sandler raised their target price on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Roth Mkm reissued a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Chord Energy in a research report on Friday, April 17th. Wells Fargo & Company raised their target price on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Scotiabank raised their target price on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho raised their target price on Chord Energy from $162.00 to $164.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.69.

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.