Odyssean LLC Acquires Shares of 3,886 Chord Energy Corporation $CHRD

Odyssean LLC bought a new position in Chord Energy Corporation (NASDAQ:CHRD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,886 shares of the company’s stock, valued at approximately $444,000.

A number of other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. increased its holdings in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the period. Blue Trust Inc. lifted its holdings in shares of Chord Energy by 22.2% in the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after buying an additional 84 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after buying an additional 113 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Chord Energy by 3.6% during the second quarter. Concurrent Investment Advisors LLC now owns 3,514 shares of the company’s stock valued at $402,000 after buying an additional 121 shares during the period. Finally, WealthCollab LLC increased its stake in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Douglas E. Brooks sold 8,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares of the company’s stock, valued at $1,425,263.70. This trade represents a 42.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total value of $562,660.00. Following the transaction, the executive vice president owned 13,560 shares in the company, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 23,969 shares of company stock valued at $3,389,599. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

CHRD has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Seaport Research Partners initiated coverage on shares of Chord Energy in a research report on Thursday. They issued a “neutral” rating for the company. Finally, Mizuho upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $153.46.

Chord Energy Trading Down 1.1%

Shares of NASDAQ CHRD opened at $146.39 on Friday. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $153.00. The business has a fifty day moving average price of $133.51 and a 200 day moving average price of $131.70. The stock has a market capitalization of $8.01 billion, a P/E ratio of 9.81 and a beta of 0.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business’s revenue for the quarter was up 128.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.79 earnings per share. Equities research analysts expect that Chord Energy Corporation will post 19.33 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s payout ratio is currently 34.85%.

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.