Concurrent Investment Advisors LLC Takes Position in Chord Energy Corporation $CHRD

Concurrent Investment Advisors LLC acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,291 shares of the company’s stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHRD. WealthCollab LLC grew its position in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Quent Capital LLC purchased a new stake in shares of Chord Energy in the third quarter valued at $32,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Chord Energy in the third quarter valued at $46,000. Triumph Capital Management purchased a new stake in shares of Chord Energy in the third quarter valued at $56,000. Finally, Farther Finance Advisors LLC grew its position in shares of Chord Energy by 111.1% in the fourth quarter. Farther Finance Advisors LLC now owns 644 shares of the company’s stock valued at $60,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. The trade was a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, the executive vice president directly owned 20,188 shares of the company’s stock, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,927 shares of company stock worth $2,912,028 in the last three months. 0.79% of the stock is currently owned by insiders.

Chord Energy Price Performance

CHRD stock opened at $149.25 on Tuesday. The stock has a 50-day moving average price of $129.08 and a two-hundred day moving average price of $106.22. Chord Energy Corporation has a 12-month low of $84.25 and a 12-month high of $149.94. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The company has a market cap of $8.46 billion, a PE ratio of 236.90 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. As a group, research analysts predict that Chord Energy Corporation will post 16.94 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s payout ratio is 825.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CHRD. Truist Financial lifted their price objective on Chord Energy from $169.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Mizuho set a $148.00 price objective on Chord Energy in a research report on Friday, January 9th. Scotiabank lifted their price objective on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Zacks Research raised Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Finally, Citigroup lifted their price objective on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $152.23.

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.