Ieq Capital LLC Invests $308,000 in Chord Energy Corporation $CHRD

Key Points

• Ieq Capital LLC recently acquired 2,734 shares of Chord Energy Corporation, valued at approximately $308,000, in the first quarter.
• Institutional investors collectively own 97.76% of Chord Energy, with significant stakes purchased by firms such as Encompass Capital Advisors and Nuveen LLC.
• Chord Energy has declared a quarterly dividend of $1.30 per share, providing an annualized yield of 5.0%, although the company's payout ratio stands at 132.32%.

Ieq Capital LLC purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,734 shares of the company's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its stake in Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after buying an additional 529 shares in the last quarter. Fifth Third Bancorp raised its stake in Chord Energy by 195.8% in the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after buying an additional 462 shares in the last quarter. GAMMA Investing LLC raised its stake in Chord Energy by 184.0% in the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock valued at $82,000 after buying an additional 471 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in Chord Energy in the first quarter valued at $91,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRD has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. UBS Group lifted their target price on Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Citigroup lifted their target price on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Bank of America cut their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $148.00.

Chord Energy Stock Performance

CHRD traded down $1.68 during trading on Thursday, reaching $104.87. The company's stock had a trading volume of 813,836 shares, compared to its average volume of 776,701. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $140.15. The company's fifty day moving average price is $105.93 and its 200-day moving average price is $101.28. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 26.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $984.07 million. During the same period in the prior year, the firm posted $4.69 EPS. Chord Energy's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy's payout ratio is currently 132.32%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

About Chord Energy

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.