7,998 Shares in Chord Energy Corporation $CHRD Acquired by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,998 shares of the company’s stock, valued at approximately $1,137,000.

Several other large investors have also recently bought and sold shares of the company. Orion Porfolio Solutions LLC boosted its position in shares of Chord Energy by 6,714.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chord Energy by 85.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after buying an additional 561,899 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after buying an additional 497,789 shares in the last quarter. Barclays PLC raised its stake in Chord Energy by 186.2% during the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after buying an additional 326,054 shares during the period. Finally, Wellington Management Group LLP raised its stake in Chord Energy by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock worth $169,441,000 after buying an additional 282,746 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 2.3%

CHRD opened at $111.63 on Thursday. The stock has a market capitalization of $6.28 billion, a P/E ratio of -98.79 and a beta of 0.50. The company has a current ratio of 1.02, a quick ratio of 0.96 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. The firm’s fifty day simple moving average is $134.90 and its 200 day simple moving average is $118.74.

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, topping analysts’ consensus estimates 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 firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the company earned $4.04 EPS. The company’s revenue was up 37.1% on a year-over-year basis. As a group, research analysts anticipate that Chord Energy Corporation will post 19.13 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio is currently -460.18%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial decreased their target price on Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Morgan Stanley lowered their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Wells Fargo & Company lifted their price objective on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Williams Trading set a $189.00 price objective on Chord Energy in a research report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.08.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the sale, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Darrin J. Henke sold 1,276 shares of the company’s 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 transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is owned by corporate insiders.

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.