Sterling Capital Management LLC Acquires 24,763 Shares of Chord Energy Corporation $CHRD

Sterling Capital Management LLC boosted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 116.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,112 shares of the company’s stock after acquiring an additional 24,763 shares during the period. Sterling Capital Management LLC’s holdings in Chord Energy were worth $6,556,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CHRD. New Age Alpha Advisors LLC increased its holdings in Chord Energy by 18.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company’s stock worth $5,125,000 after purchasing an additional 8,437 shares in the last quarter. Citigroup Inc. boosted its position in shares of Chord Energy by 31.1% during the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock valued at $11,089,000 after buying an additional 26,499 shares during the last quarter. Phocas Financial Corp. boosted its position in shares of Chord Energy by 20.7% during the fourth quarter. Phocas Financial Corp. now owns 72,153 shares of the company’s stock valued at $6,689,000 after buying an additional 12,356 shares during the last quarter. Unison Advisors LLC bought a new stake in Chord Energy during the fourth quarter worth $701,000. Finally, Oak Thistle LLC grew its holdings in Chord Energy by 150.3% during the fourth quarter. Oak Thistle LLC now owns 21,208 shares of the company’s stock worth $1,966,000 after buying an additional 12,736 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. The trade was a 5.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the transaction, the director owned 18,705 shares of the company’s stock, valued at $2,591,951.85. This represents a 7.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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 Stock Performance

NASDAQ CHRD opened at $116.33 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market capitalization of $6.55 billion, a PE ratio of -102.95 and a beta of 0.48. The company has a 50-day simple moving average of $135.76 and a 200 day simple moving average of $118.28. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company earned $4.04 earnings per share. Chord Energy’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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors 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 annualized dividend and a yield of 4.5%. Chord Energy’s dividend payout ratio (DPR) is -460.18%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CHRD. Williams Trading set a $189.00 price objective on Chord Energy in a research note on Monday, April 20th. Scotiabank upped their target price on shares of Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Truist Financial lowered their target price on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a report on Friday, May 8th. Morgan Stanley raised their price target on shares of Chord Energy from $168.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.