Miller Value Partners LLC Has $5.36 Million Holdings in Chord Energy Corporation $CHRD

Miller Value Partners LLC raised its position in Chord Energy Corporation (NASDAQ:CHRD) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,766 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Chord Energy makes up approximately 1.9% of Miller Value Partners LLC’s holdings, making the stock its 21st biggest position. Miller Value Partners LLC’s holdings in Chord Energy were worth $5,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in Chord Energy by 5.4% in the third quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock valued at $314,661,000 after purchasing an additional 163,125 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Chord Energy by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after purchasing an additional 277,588 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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 purchasing an additional 282,746 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Chord Energy by 18.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after purchasing an additional 193,469 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 561,899 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity

In related news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the sale, the director owned 18,705 shares of the company’s stock, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 in the last three months. Company insiders own 0.79% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $126.97 on Thursday. The company has a market capitalization of $7.15 billion, a PE ratio of -112.36 and a beta of 0.48. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $137.56 and its 200 day simple moving average is $117.14.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $4.04 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. On average, research analysts predict that Chord Energy Corporation will post 20.53 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.1%. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Wall Street Zen upgraded Chord Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Williams Trading set a $189.00 price objective on Chord Energy in a research report on Monday, April 20th. UBS Group increased their price objective on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Scotiabank increased their price target on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $157.54.

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.