Chord Energy Corporation $CHRD Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP grew its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 34.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,116 shares of the company’s stock after buying an additional 40,583 shares during the quarter. RWC Asset Management LLP’s holdings in Chord Energy were worth $21,199,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CHRD. Dimensional Fund Advisors LP increased its stake in shares of Chord Energy by 27.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after buying an additional 329,565 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Chord Energy by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock valued at $100,586,000 after acquiring an additional 7,250 shares in the last quarter. First Trust Advisors LP boosted its stake in Chord Energy by 98.2% during the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after acquiring an additional 287,340 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Chord Energy during the 2nd quarter valued at $66,489,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Chord Energy by 178.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock valued at $60,404,000 after acquiring an additional 272,349 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $7.65 during trading on Friday, reaching $158.13. The stock had a trading volume of 793,622 shares, compared to its average volume of 689,691. Chord Energy Corporation has a one year low of $84.25 and a one year high of $159.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The stock has a market cap of $8.65 billion, a PE ratio of 10.60 and a beta of 0.59. The firm’s 50 day moving average price is $145.07 and its two-hundred day moving average price is $137.13.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s revenue was up 128.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.79 earnings per share. On average, research analysts forecast that Chord Energy Corporation will post 22.34 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s payout ratio is currently 34.85%.

Insiders Place Their Bets

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the sale, the director directly owned 10,705 shares of the company’s stock, valued at approximately $1,425,263.70. This represents a 42.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president directly owned 13,560 shares in the company, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,969 shares of company stock valued at $3,389,599 over the last 90 days. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CHRD. Scotiabank started coverage on shares of Chord Energy in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $192.00 price objective for the company. Seaport Research Partners initiated coverage on shares of Chord Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Citigroup increased their price target on shares of Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Mizuho increased their price target on shares of Chord Energy from $175.00 to $179.00 and gave the stock an “outperform” rating in a research report on Monday, October 5th. Finally, Jefferies Financial Group lifted their price target on Chord Energy from $133.00 to $150.00 and gave the stock a “hold” rating in a research note on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.54.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.