Compound Planning Inc. Purchases Shares of 6,437 Chord Energy Corporation $CHRD

Compound Planning Inc. acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,437 shares of the company’s stock, valued at approximately $915,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares during the last quarter. Blue Trust Inc. raised its position in Chord Energy by 22.2% in the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after buying an additional 84 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after acquiring an additional 113 shares in the last quarter. WealthCollab LLC lifted its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in Chord Energy by 178.6% during 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. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

Shares of CHRD stock opened at $138.36 on Monday. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -122.44 and a beta of 0.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The firm’s 50-day simple moving average is $129.37 and its two-hundred day simple moving average is $122.57.

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

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. Chord Energy’s dividend payout ratio is presently -460.18%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the sale, the director directly owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,276 shares of company stock valued at $1,285,968 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHRD. Wells Fargo & Company increased their target price on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Mizuho boosted their price target on shares of Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Citigroup reduced their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Morgan Stanley decreased their price objective on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, Williams Trading set a $189.00 target price on shares of Chord Energy in a research report on Monday, April 20th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.38.

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.