Chord Energy Corporation $CHRD Stake Cut by Whitebox Advisors LLC

Whitebox Advisors LLC lessened its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,476 shares of the company’s stock after selling 15,000 shares during the quarter. Whitebox Advisors LLC’s holdings in Chord Energy were worth $22,674,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SummitTX Capital L.P. acquired a new stake in shares of Chord Energy during the first quarter worth $1,059,000. Entropy Technologies LP acquired a new position in shares of Chord Energy in the 1st quarter valued at about $470,000. Morningstar Investment Management LLC acquired a new position in shares of Chord Energy in the 1st quarter valued at about $2,882,000. Compound Planning Inc. acquired a new position in shares of Chord Energy in the 1st quarter valued at about $915,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Chord Energy by 178.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock valued at $60,404,000 after buying an additional 272,349 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHRD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research note on Friday, June 12th. Scotiabank lifted their target price 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. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Mizuho increased their price target on Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.38.

Insider Activity at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction that occurred on 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 $3,088,287.29. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the sale, the director directly owned 18,705 shares in the company, valued at $2,591,951.85. The trade was a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by insiders.

Chord Energy Stock Performance

Chord Energy stock opened at $138.36 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $129.37 and a two-hundred day moving average price of $122.57. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of -122.44 and a beta of 0.49. 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 results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $4.04 earnings per share. Chord Energy’s revenue was up 37.1% compared to the same quarter last year. Sell-side analysts expect that Chord Energy Corporation will post 18.32 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm 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. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio is -460.18%.

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.