Chord Energy Corporation $CHRD Shares Acquired by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its holdings in Chord Energy Corporation by 64.2% in the first quarter, amounting to 55,449 shares valued at approximately $6.25 million.
• Chord Energy reported a quarterly earnings miss with earnings per share of $1.79, falling short of the $1.88 analysts expected, although revenue rose to $1.18 billion, surpassing estimates.
• The company announced a quarterly dividend of $1.30, offering a 4.8% dividend yield, with a payout ratio of 132.32%.

Advisors Asset Management Inc. increased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 64.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 55,449 shares of the company's stock after acquiring an additional 21,676 shares during the period. Advisors Asset Management Inc. owned about 0.10% of Chord Energy worth $6,250,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CHRD. Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after purchasing an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after buying an additional 529 shares during the period. Fifth Third Bancorp lifted its holdings in Chord Energy by 195.8% during the 1st 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 lifted its holdings in Chord Energy by 184.0% during the 1st 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. purchased a new stake in Chord Energy in the 1st quarter valued at about $91,000. Institutional investors own 97.76% of the company's stock.

Chord Energy Stock Down 3.8%

Chord Energy stock traded down $4.06 during trading hours on Friday, reaching $103.42. The stock had a trading volume of 1,401,887 shares, compared to its average volume of 774,466. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 8.13 and a beta of 0.97. The business's 50 day moving average price is $105.71 and its 200-day moving average price is $101.34. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $140.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90.

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

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. Chord Energy's dividend payout ratio is presently 132.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CHRD shares. Mizuho reduced their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company raised their price objective on Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Piper Sandler upped their target price on Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Bank of America decreased their price objective on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

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 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 completion of the sale, the executive vice president owned 14,650 shares of the company's stock, valued at $1,544,549.50. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by 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.