Aristeia Capital L.L.C. Purchases New Holdings in Chord Energy Corporation $CHRD

Key Points

• Aristeia Capital L.L.C. acquired 2,838 shares of Chord Energy Corporation, valued at approximately $320,000, in the first quarter, highlighting interest from institutional investors, who own 97.76% of the company.
• Chord Energy's quarterly dividend was recently paid at $1.30 per share, representing an annualized dividend of $5.20 and a yield of 5.0%, despite a dividend payout ratio of 132.32%.
• Wall Street analysts have mixed ratings on Chord Energy, with a consensus price target of $148.00 and notable upgrades from firms such as Citigroup, which increased its target from $120.00 to $125.00.

Aristeia Capital L.L.C. bought a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,838 shares of the company's stock, valued at approximately $320,000.

Other hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in shares of 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 during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 during the period. Fifth Third Bancorp lifted its stake in shares of 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 during the period. GAMMA Investing LLC lifted its stake in shares of 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 during the period. Finally, UMB Bank n.a. bought a new stake in shares of Chord Energy in the first quarter valued at about $91,000. Institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CHRD shares. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup raised their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. UBS Group raised their price target on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler raised their price target on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company raised their price target on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $0.71 during mid-day trading on Friday, hitting $104.16. 927,389 shares of the stock were exchanged, compared to its average volume of 778,789. The company has a market cap of $5.96 billion, a P/E ratio of 26.50 and a beta of 0.97. The stock's fifty day simple moving average is $105.93 and its two-hundred day simple moving average is $101.08. 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 Corporation has a twelve month low of $79.83 and a twelve month high of $140.15.

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

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. Chord Energy's dividend payout ratio (DPR) is presently 132.32%.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

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.