Algert Global LLC Sells 38,030 Shares of Chord Energy Corporation $CHRD

Algert Global LLC cut its position in Chord Energy Corporation (NASDAQ:CHRD) by 31.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,850 shares of the company’s stock after selling 38,030 shares during the quarter. Algert Global LLC owned about 0.15% of Chord Energy worth $8,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CHRD. WealthCollab LLC increased its stake in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Chord Energy in the 3rd quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 acquiring an additional 196 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Chord Energy during the third quarter worth about $46,000. Finally, Allworth Financial LP grew its holdings in shares of Chord Energy by 160.5% during the second quarter. Allworth Financial LP now owns 659 shares of the company’s stock worth $64,000 after purchasing an additional 406 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $126.37 on Tuesday. The stock’s 50-day moving average is $103.11 and its 200 day moving average is $98.25. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 200.59 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 company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.49 earnings per share. On average, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the sale, the executive vice president directly owned 20,188 shares of the company’s stock, valued at $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director owned 25,181 shares of the company’s stock, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,927 shares of company stock valued at $2,912,028. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHRD. Morgan Stanley lowered their target price on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. Wells Fargo & Company increased their price target on shares of Chord Energy from $109.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday. Scotiabank restated a “sector perform” rating and set a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Finally, Citigroup lifted their price objective on shares of Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.27.

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.