World Investment Advisors Purchases Shares of 4,401 Chord Energy Corporation $CHRD

World Investment Advisors purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,401 shares of the company’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC boosted its holdings in shares of Chord Energy by 18.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company’s stock worth $5,125,000 after buying an additional 8,437 shares during the period. Citigroup Inc. raised its holdings in shares of Chord Energy by 31.1% during the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock valued at $11,089,000 after acquiring an additional 26,499 shares during the period. Phocas Financial Corp. lifted its position in shares of Chord Energy by 20.7% in the 4th quarter. Phocas Financial Corp. now owns 72,153 shares of the company’s stock valued at $6,689,000 after acquiring an additional 12,356 shares in the last quarter. Unison Advisors LLC purchased a new stake in shares of Chord Energy in the 4th quarter valued at approximately $701,000. Finally, Oak Thistle LLC boosted its stake in Chord Energy by 150.3% in the 4th quarter. Oak Thistle LLC now owns 21,208 shares of the company’s stock worth $1,966,000 after purchasing an additional 12,736 shares during the period. Institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. UBS Group raised their target price on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Chord Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Mizuho upped their price target on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company increased their price objective on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $157.54.

Chord Energy Stock Down 3.6%

CHRD stock opened at $119.93 on Thursday. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -106.13 and a beta of 0.48. The company has a 50 day moving average of $136.23 and a two-hundred day moving average of $118.14.

Chord Energy (NASDAQ:CHRD) last issued 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. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $4.04 EPS. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, equities analysts anticipate that Chord Energy Corporation will post 20.53 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were given a dividend of $1.30 per share. 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 4.3%. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the sale, the director directly owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,276 shares of company stock worth $1,285,968 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

About Chord Energy

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.