Tidal Investments LLC Has $3.41 Million Stake in Chord Energy Corporation $CHRD

Tidal Investments LLC increased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 299.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,843 shares of the company’s stock after buying an additional 22,368 shares during the period. Tidal Investments LLC’s holdings in Chord Energy were worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHRD. California State Teachers Retirement System lifted its holdings in shares of Chord Energy by 11,278.5% during the 2nd quarter. California State Teachers Retirement System now owns 7,608,151 shares of the company’s stock worth $869,612,000 after acquiring an additional 7,541,287 shares during the period. Dimensional Fund Advisors LP lifted its stake in Chord Energy by 27.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after purchasing an additional 329,565 shares during the last quarter. Geode Capital Management LLC lifted its stake in Chord Energy by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after purchasing an additional 277,588 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Chord Energy by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock valued at $100,586,000 after purchasing an additional 7,250 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Chord Energy by 98.2% in the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after purchasing an additional 287,340 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Down 0.5%

Shares of CHRD stock opened at $151.22 on Tuesday. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $156.32. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 10.14 and a beta of 0.50. The stock has a 50-day moving average of $137.88 and a 200-day moving average of $133.86.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. Chord Energy’s revenue was up 128.6% compared to the same quarter last year. On average, equities research analysts forecast that Chord Energy Corporation will post 19.33 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were given a $1.30 dividend. The ex-dividend date was Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.4%. Chord Energy’s payout ratio is 34.85%.

Insider Transactions at Chord Energy

In other 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 completion of the sale, the director directly owned 10,705 shares in the company, valued at $1,425,263.70. This represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the transaction, the director directly owned 7,280 shares of the company’s stock, valued at $1,091,563.20. This represents a 57.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 23,969 shares of company stock worth $3,389,599. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CHRD shares. Wells Fargo & Company boosted their price target on Chord Energy from $163.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Citigroup decreased their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, Seaport Research Partners assumed coverage on shares of Chord Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.79.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.

The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.

Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.