Foster & Motley Inc. Invests $695,000 in Chord Energy Corporation $CHRD

Foster & Motley Inc. acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,081 shares of the company’s stock, valued at approximately $695,000.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the period. Versant Capital Management Inc grew its position in Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Chord Energy during the first quarter worth about $29,000. WealthCollab LLC increased its stake in 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 period. Finally, Root Financial Partners LLC lifted its position in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Mizuho raised shares of Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. UBS Group upped their target price on shares of Chord Energy from $153.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. BMO Capital Markets reissued an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Finally, Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $152.54.

Chord Energy Trading Up 2.7%

Shares of NASDAQ:CHRD opened at $147.83 on Thursday. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The company’s 50 day moving average is $128.42 and its two-hundred day moving average is $128.05. The company has a market cap of $8.09 billion, a PE ratio of 9.91 and a beta of 0.48. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data 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 analysts’ expectations of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.Chord Energy’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period last year, the firm posted $1.79 earnings per share. Equities analysts predict that Chord Energy Corporation will post 18.03 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 20th. Chord Energy’s payout ratio is 34.85%.

Insider Transactions at Chord Energy

In other news, Director Samantha Mckinney sold 2,200 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $136.32, for a total transaction of $299,904.00. Following the completion of the transaction, the director directly owned 17,030 shares of the company’s stock, valued at approximately $2,321,529.60. This represents a 11.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the completion of the transaction, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 14,219 shares of company stock valued at $1,927,684. 0.79% of the stock is currently owned by corporate insiders.

About Chord Energy

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.