Waterfront Wealth Inc. Acquires New Holdings in Chord Energy Corporation $CHRD

Waterfront Wealth Inc. acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,380 shares of the company’s stock, valued at approximately $1,049,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after acquiring an additional 84 shares during the period. SBI Securities Co. Ltd. grew its stake in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after purchasing an additional 113 shares in the last quarter. WealthCollab LLC increased its holdings 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 buying an additional 145 shares during the last quarter. Root Financial Partners LLC raised its position in 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 acquiring an additional 150 shares in the last quarter. Finally, Madison Asset Management LLC lifted its stake in Chord Energy by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 24,950 shares of the company’s stock valued at $2,313,000 after acquiring an additional 160 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas E. Brooks sold 3,500 shares of Chord Energy stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the sale, the director directly owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,276 shares of company stock worth $1,285,968. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Zacks Research downgraded Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Truist Financial reduced their price objective on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

Chord Energy Stock Performance

CHRD stock traded down $1.09 during mid-day trading on Friday, hitting $117.39. 691,357 shares of the company were exchanged, compared to its average volume of 866,133. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The stock has a market capitalization of $6.61 billion, a PE ratio of -103.88 and a beta of 0.49. The business has a 50 day simple moving average of $131.92 and a 200-day simple moving average of $119.69. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.04 earnings per share. On average, equities analysts forecast that Chord Energy Corporation will post 18.13 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio is currently -460.18%.

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.