AlphaQuest LLC Acquires 26,267 Shares of Chord Energy Corporation $CHRD

AlphaQuest LLC increased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 1,576.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,933 shares of the company’s stock after buying an additional 26,267 shares during the period. AlphaQuest LLC’s holdings in Chord Energy were worth $2,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chord Energy by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after acquiring an additional 18,137 shares in the last quarter. Focus Partners Wealth purchased a new position in Chord Energy in the first quarter valued at about $289,000. Janney Montgomery Scott LLC raised its holdings in Chord Energy by 6.5% in the second quarter. Janney Montgomery Scott LLC now owns 12,142 shares of the company’s stock worth $1,176,000 after purchasing an additional 738 shares in the last quarter. Truist Financial Corp raised its holdings in Chord Energy by 18.4% in the second quarter. Truist Financial Corp now owns 11,038 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Chord Energy by 89.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock valued at $67,000 after buying an additional 327 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $100.24 on Friday. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 38.55 and a beta of 0.92. The stock has a 50-day moving average of $93.85 and a 200 day moving average of $97.70. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $116.24.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $3.40 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Wednesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. Chord Energy’s dividend payout ratio (DPR) is 200.00%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $85.50 per share, with a total value of $106,875.00. Following the completion of the acquisition, the director directly owned 17,706 shares of the company’s stock, valued at $1,513,863. This represents a 7.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHRD. William Blair initiated coverage on Chord Energy in a research report on Friday, November 21st. They set an “outperform” rating on the stock. Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research report on Saturday, January 17th. Roth Mkm assumed coverage on shares of Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 target price for the company. Mizuho set a $148.00 target price on Chord Energy in a research note on Friday, January 9th. Finally, Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

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.