Vinva Investment Management Ltd Purchases Shares of 4,833 Chord Energy Corporation $CHRD

Vinva Investment Management Ltd purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,833 shares of the company’s stock, valued at approximately $480,000.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in Chord Energy during the 3rd quarter worth approximately $91,434,000. Orion Porfolio Solutions LLC boosted its position in Chord Energy by 6,714.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after buying an additional 698,680 shares during the period. AQR Capital Management LLC grew its stake in shares of Chord Energy by 210.5% in the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares in the last quarter. Barclays PLC grew its stake in shares of Chord Energy by 186.2% in the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after acquiring an additional 326,054 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Chord Energy by 44.6% during the third quarter. Dimensional Fund Advisors LP now owns 656,268 shares of the company’s stock worth $65,221,000 after acquiring an additional 202,270 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the sale, the executive vice president directly owned 20,188 shares of the company’s stock, valued at $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas E. Brooks sold 2,126 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the completion of the transaction, the director owned 25,181 shares of the company’s stock, valued at $3,028,770.68. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,927 shares of company stock valued at $1,029,978 in the last ninety days. Insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $119.03 on Wednesday. The business has a 50 day moving average price of $100.58 and a 200 day moving average price of $97.79. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 188.94 and a beta of 0.84. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $127.56. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

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

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be issued a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. Chord Energy’s dividend payout ratio is presently 825.40%.

Analysts Set New Price Targets

CHRD has been the topic of several analyst reports. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a research note on Saturday, January 17th. Piper Sandler upped their price target on Chord Energy from $151.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Mizuho set a $148.00 price target on Chord Energy in a research report on Friday, January 9th. Morgan Stanley decreased their price objective on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Finally, Citigroup boosted their price objective on Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.91.

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.