Lindenwold Advisors INC Makes New $258,000 Investment in Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• Lindenwold Advisors INC purchased 2,293 shares of Chord Energy Corporation, valued at approximately $258,000, marking a significant new position in the company.
• Chord Energy declared a quarterly dividend of $1.30 per share, resulting in an annualized payment of $5.20 per share, with a dividend yield of 4.7%.
• Several analysts have lowered their price targets for Chord Energy, with Royal Bank of Canada reducing its target from $165.00 to $145.00, while maintaining an "outperform" rating.

Lindenwold Advisors INC bought a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,293 shares of the company's stock, valued at approximately $258,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after acquiring an additional 394,372 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Chord Energy by 19.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock valued at $100,011,000 after acquiring an additional 136,751 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Chord Energy by 6.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock valued at $89,198,000 after acquiring an additional 47,649 shares in the last quarter. Woodline Partners LP lifted its stake in Chord Energy by 16.4% in the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company's stock valued at $87,569,000 after purchasing an additional 105,448 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Chord Energy by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock valued at $83,675,000 after purchasing an additional 53,927 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Piper Sandler raised their target price on shares of Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Mizuho cut their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Citigroup raised their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.54.

Chord Energy Stock Performance

Shares of CHRD traded down $4.47 during mid-day trading on Friday, hitting $105.86. 649,942 shares of the company's stock were exchanged, compared to its average volume of 570,914. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $165.59. The stock's 50-day simple moving average is $102.27 and its 200-day simple moving average is $103.33. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 7.08 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the firm earned $5.10 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 34.78%.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president directly owned 21,277 shares of the company's stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.