Core Capital Management & Research inc. Invests $668,000 in Chord Energy Corporation $CHRD

Core Capital Management & Research inc. bought a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,847 shares of the company’s stock, valued at approximately $668,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHRD. Bessemer Group Inc. lifted its position in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares during the last quarter. Versant Capital Management Inc increased its position in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy during the first quarter valued at $29,000. WealthCollab LLC raised its stake 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 acquiring an additional 145 shares during the period. Finally, Root Financial Partners LLC lifted its holdings in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.3%

CHRD stock opened at $149.49 on Thursday. The company has a market capitalization of $8.18 billion, a PE ratio of 10.02 and a beta of 0.50. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $153.00. The firm’s 50-day moving average is $135.55 and its 200 day moving average is $132.88. 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 quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company’s quarterly revenue was up 128.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.79 EPS. On average, research analysts anticipate that Chord Energy Corporation will post 19.33 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s payout ratio is currently 34.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Citigroup reduced their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Truist Financial dropped their target price on Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, UBS Group upped their target price on Chord Energy from $153.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.46.

Insider Activity at Chord Energy

In related news, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 13,560 shares in the company, valued at approximately $1,898,400. The trade was a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas Brooks sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 10,705 shares in the company, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,969 shares of company stock worth $3,389,599. Company insiders own 0.79% of the company’s stock.

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.