Unison Advisors LLC Makes New Investment in Chord Energy Corporation $CHRD

Unison Advisors LLC bought a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,558 shares of the company’s stock, valued at approximately $701,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Citizens Bank & Trust Co. increased its holdings in Chord Energy by 2.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock valued at $527,000 after purchasing an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Chord Energy by 18.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after purchasing an additional 130 shares in the last quarter. WealthCollab LLC grew its holdings in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Chord Energy by 3.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock worth $430,000 after purchasing an additional 157 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Chord Energy by 15.5% in the third quarter. Jones Financial Companies Lllp now owns 1,245 shares of the company’s stock valued at $130,000 after buying an additional 167 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CHRD shares. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a report on Saturday, January 17th. Scotiabank raised Chord Energy to a “hold” rating in a research note on Friday, March 27th. Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Morgan Stanley upgraded Chord Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $114.00 to $168.00 in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.83.

Chord Energy Price Performance

NASDAQ CHRD opened at $142.00 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66. The business has a 50 day simple moving average of $115.66 and a 200 day simple moving average of $101.35. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $148.41.

Chord Energy (NASDAQ:CHRD) last announced 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. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $3.49 earnings per share. The business’s revenue was down 19.6% on a year-over-year basis. 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 paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 3.7%. Chord Energy’s dividend payout ratio is presently 825.40%.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the 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 completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the sale, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. This represents a 15.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,927 shares of company stock valued at $2,912,028 in the last quarter. 0.70% of the stock is currently owned by company insiders.

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.