Citigroup Inc. Grows Stock Holdings in Chord Energy Corporation $CHRD

Citigroup Inc. lifted its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 31.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,590 shares of the company’s stock after purchasing an additional 26,499 shares during the period. Citigroup Inc. owned 0.20% of Chord Energy worth $11,089,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new position in Chord Energy during the third quarter worth $91,434,000. Orion Porfolio Solutions LLC raised its holdings in shares of Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after acquiring an additional 698,680 shares during the period. AQR Capital Management LLC raised its holdings in shares of Chord Energy by 210.5% during the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after acquiring an additional 180,000 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after purchasing an additional 179,209 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Up 2.8%

CHRD stock opened at $108.37 on Friday. The company’s 50 day moving average price is $96.89 and its 200 day moving average price is $97.09. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 172.02 and a beta of 0.92. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $115.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating 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 6.68% and a net margin of 0.91%.Chord Energy’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the firm earned $3.49 earnings per share. On average, equities research analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be issued a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. Chord Energy’s dividend payout ratio is presently 825.40%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CHRD shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, January 21st. Morgan Stanley reduced their price target on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Mizuho set a $148.00 price objective on Chord Energy in a report on Friday, January 9th. William Blair initiated coverage on Chord Energy in a research report on Friday, November 21st. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada reduced their target price on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Eight 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. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

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.