BlackRock Fund Advisors recently announced the acquisition of new stake in Chord Energy Corp (NASDAQ:CHRD). The institutional investor has increased its shareholding in the Energy company by 2.99% to 4.55 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 11.02% valued currently at $737.71 million. In addition, The Vanguard Group, Inc. raised its holdings by 25235.0 to 4.28 million shares. And Wellington Management Co. LLP has lifted its position by 1.02% or 26896.0 shares – to 2.67 million shares.
With over 0.45 million Chord Energy Corp (CHRD) shares trading Friday and a closing price of $168.75 on the day, the dollar volume was approximately $75.33 million. The shares have shown a positive half year performance of 14.83% and its price on 12/22/23 gained nearly 0.81%. Currently, there are 41.48M common shares owned by the public and among those 39.75M shares have been available to trade.
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Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 76,513 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 97,154 shares.
The top 3 mutual fund holders in Chord Energy Corp are Fidelity Low Priced Stock Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Fidelity Low Priced Stock Fund owns 1.51 million shares of the company’s stock, all valued at over $244.14 million. iShares Core S&P Mid Cap ETF bought 227.0 shares to see its total holdings expand to 1.28 million shares valued at over $207.72 million and representing 3.10% of the shares outstanding. Vanguard Total Stock Market ETF bought 1328.0 shares to bring its total holdings to over 1.23 million shares at a value of $199.43 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.98% of the shares outstanding.
Shares of Chord Energy Corp (NASDAQ: CHRD) opened at $168.52, up $1.13 from a prior closing price of $167.39. However, the script later moved the day high at 170.33, up 0.81%. The company’s stock has a 5-day price change of 3.11% and 6.63% over the past three months. CHRD shares are trading 29.32% year to date (YTD), with the 12-month market performance up to 30.48% higher. It has a 12-month low price of $114.47 and touched a high of $173.85 over the same period. CHRD has an average intraday trading volume of 453.90K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.61%, 3.41%, and 11.60% respectively.
Institutional ownership of Chord Energy Corp (NASDAQ: CHRD) shares accounts for 101.17% of the company’s 41.48M shares outstanding. Mutual fund holders own 41.22%, while other institutional holders and individual stakeholders account for 60.27% and 3.30% respectively.
It has a market capitalization of $6.97B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 6.68, while the earnings-per-share (ttm) stands at $25.28. The company has a PEG of 0.83 and a Quick Ratio of 0.97 with the debt-to-equity ratio at 0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.90% over the week and 1.97% over the month.
Analysts forecast that Chord Energy Corp (CHRD) will achieve an EPS of $5.84 for the current quarter, $6.25 for the next quarter and $25.57 for 2024. The lowest estimate earnings-per-share for the quarter is $4.91 while analysts give the company a high EPS estimate of $6.92. Comparatively, EPS for the current quarter was $5.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -28.73%, and 29.08% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 156.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Chord Energy Corp (CHRD) as a “Strong Buy” at a consensus score of 1.21. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 1 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CHRD, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on November 15, 2023, with the firm’s price target at $189.
