Chord Energy Corporation $CHRD Shares Acquired by Phocas Financial Corp.

Phocas Financial Corp. lifted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,153 shares of the company’s stock after purchasing an additional 12,356 shares during the quarter. Phocas Financial Corp. owned about 0.13% of Chord Energy worth $6,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHRD. Citigroup Inc. lifted its holdings in shares of Chord Energy by 31.1% in the 3rd quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock worth $11,089,000 after acquiring an additional 26,499 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Chord Energy in the 3rd quarter valued at approximately $91,434,000. Wedge Capital Management L L P NC purchased a new stake in Chord Energy in the third quarter valued at approximately $13,092,000. AlphaQuest LLC raised its position in Chord Energy by 1,576.7% in the third quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after purchasing an additional 26,267 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in Chord Energy by 22.9% during the second quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock worth $20,792,000 after purchasing an additional 39,980 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Chord Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. UBS Group increased their target price on Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Citigroup raised their target price on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Scotiabank raised Chord Energy to a “hold” rating in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.83.

Chord Energy Price Performance

CHRD stock opened at $142.00 on Monday. The business has a 50 day moving average price of $115.66 and a 200 day moving average price of $101.35. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $148.41.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The firm’s revenue was down 19.6% on a year-over-year basis. Equities research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the transaction, the executive vice president directly owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,927 shares of company stock valued at $2,912,028 over the last quarter. 0.70% of the stock is owned by insiders.

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.