First Trust Advisors LP Sells 59,713 Shares of Chord Energy Corporation $CHRD

First Trust Advisors LP cut its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 14.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,915 shares of the company’s stock after selling 59,713 shares during the quarter. First Trust Advisors LP owned approximately 0.60% of Chord Energy worth $33,777,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after purchasing an additional 18,137 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Chord Energy in the 1st quarter worth approximately $289,000. Aviva PLC grew its stake in shares of Chord Energy by 163.6% in the 2nd quarter. Aviva PLC now owns 4,794 shares of the company’s stock worth $464,000 after buying an additional 2,975 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares in the last quarter. Finally, Allworth Financial LP increased its position in Chord Energy by 160.5% during the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock valued at $64,000 after buying an additional 406 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Royal Bank Of Canada reduced their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Citigroup lifted their price target on Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, William Blair initiated coverage on shares of Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating for the company. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $128.82.

Chord Energy Trading Down 1.5%

Shares of CHRD stock opened at $122.98 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 195.21 and a beta of 0.84. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $127.56. The firm has a fifty day moving average price of $101.82 and a 200-day moving average price of $98.15.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.Chord Energy’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 4.2%. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Insider Activity

In related news, CAO Lara J. Kroll sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. The trade was a 35.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the completion of the sale, the director directly owned 25,181 shares of the company’s stock, valued at $3,028,770.68. This represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,927 shares of company stock valued at $1,029,978 in the last ninety days. Corporate insiders own 0.70% 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.