Victory Capital Management Inc. Boosts Stock Holdings in Chord Energy Corporation $CHRD

Victory Capital Management Inc. lifted its stake in Chord Energy Corporation (NASDAQ:CHRD) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,166,564 shares of the company’s stock after purchasing an additional 163,125 shares during the period. Victory Capital Management Inc. owned about 0.06% of Chord Energy worth $314,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHRD. WealthCollab LLC raised its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in Chord Energy in the third quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after acquiring an additional 196 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Chord Energy during the 3rd quarter worth approximately $46,000. Finally, Allworth Financial LP increased its position in shares of Chord Energy by 160.5% in the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock valued at $64,000 after purchasing an additional 406 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.9%

Chord Energy stock opened at $112.34 on Wednesday. The stock has a 50-day simple moving average of $97.77 and a 200-day simple moving average of $97.20. The company has a market capitalization of $6.39 billion, a P/E ratio of 178.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $116.26.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm’s revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. Equities research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be given a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 4.6%. Chord Energy’s dividend payout ratio is 825.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Weiss Ratings cut Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday, January 17th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Chord Energy currently has a consensus rating of “Hold” and a consensus target price of $123.92.

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.