Allspring Global Investments Holdings LLC Increases Holdings in Chord Energy Corporation $CHRD

Allspring Global Investments Holdings LLC grew its position in Chord Energy Corporation (NASDAQ:CHRD) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 734,416 shares of the company’s stock after buying an additional 7,250 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.30% of Chord Energy worth $100,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after purchasing an additional 84 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after acquiring an additional 113 shares during the period. WealthCollab LLC boosted its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Root Financial Partners LLC boosted its position in Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares during the last quarter. Finally, Madison Asset Management LLC grew its stake in shares of Chord Energy by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 24,950 shares of the company’s stock valued at $2,313,000 after purchasing an additional 160 shares during the period. 97.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares in the company, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the sale, the director directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,276 shares of company stock valued at $1,285,968. Corporate insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $128.10 on Friday. The company has a market capitalization of $7.21 billion, a P/E ratio of -113.36 and a beta of 0.49. The company’s 50-day simple moving average is $130.12 and its two-hundred day simple moving average is $120.85. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $4.04 EPS. Chord Energy’s revenue was up 37.1% on a year-over-year basis. As a group, equities analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a $1.30 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.1%. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHRD. Wall Street Zen lowered shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. Mizuho boosted their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Citigroup decreased their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Finally, Morgan Stanley cut their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.38.

About Chord Energy

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.