20,271 Shares in Chord Energy Corporation $CHRD Bought by Morningstar Investment Management LLC

Morningstar Investment Management LLC acquired a new position in Chord Energy Corporation (NASDAQ:CHRD) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,271 shares of the company’s stock, valued at approximately $2,882,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compound Planning Inc. purchased a new stake in shares of Chord Energy during the first quarter worth about $915,000. Arrowstreet Capital Limited Partnership boosted its holdings in Chord Energy by 178.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock valued at $60,404,000 after purchasing an additional 272,349 shares during the last quarter. Oak Associates Ltd. OH purchased a new position in Chord Energy in the first quarter valued at about $386,000. Lido Advisors LLC acquired a new stake in Chord Energy during the 1st quarter valued at approximately $514,000. Finally, First Trust Advisors LP grew its stake in Chord Energy by 98.2% during the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after purchasing an additional 287,340 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of CHRD opened at $138.36 on Friday. The stock has a market capitalization of $7.79 billion, a PE ratio of -122.44 and a beta of 0.49. The business’s fifty day moving average price is $129.37 and its 200 day moving average price is $122.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $151.95.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company earned $4.04 earnings per share. The firm’s revenue was up 37.1% compared to the same quarter last year. Equities research analysts forecast that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced 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 (DPR) is currently -460.18%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CHRD shares. Roth Capital reaffirmed a “buy” rating and issued a $145.00 target price on shares of Chord Energy in a research report on Wednesday, July 15th. Scotiabank raised their price target on shares of Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Williams Trading set a $189.00 price target on shares of Chord Energy in a report on Monday, April 20th. Finally, UBS Group decreased their price objective on shares of Chord Energy from $179.00 to $153.00 and set a “buy” rating for the company in a report on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.38.

Insider Buying and Selling

In related news, Director Douglas E. Brooks sold 3,500 shares of the firm’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 of the company’s stock, valued at approximately $2,762,225.55. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the firm’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 completion of the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is currently owned by 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.