AIA Group Ltd Purchases 5,552 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• AIA Group Ltd increased its holdings in Chord Energy Corporation by 170.2%, acquiring an additional 5,552 shares, making their total ownership 8,814 shares valued at approximately $994,000.
• Chord Energy recently announced a quarterly dividend of $1.30, representing a 5.2% annualized yield, with a payout ratio of 132.32%.
• The company's latest quarterly earnings report showed earnings per share of $1.79, falling short of analysts' expectations of $1.88, while revenues increased by 5.3% year-over-year to $1.18 billion.

AIA Group Ltd boosted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 170.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,814 shares of the company's stock after purchasing an additional 5,552 shares during the quarter. AIA Group Ltd's holdings in Chord Energy were worth $994,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CHRD. Altshuler Shaham Ltd purchased a new stake in shares of Chord Energy in the fourth quarter valued at $25,000. Hexagon Capital Partners LLC raised 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 acquiring an additional 341 shares during the period. Fifth Third Bancorp raised 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 acquiring an additional 462 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 471 shares during the period. Finally, UMB Bank n.a. purchased a new stake in shares of Chord Energy in the first quarter valued at $91,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the sale, the executive vice president directly owned 17,669 shares in the company, valued at approximately $1,795,877.16. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup increased 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. Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group restated a "buy" rating and issued a $120.00 price target (up from $113.00) on shares of Chord Energy in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $148.77.

Chord Energy Stock Down 0.7%

Chord Energy stock traded down $0.70 during midday trading on Friday, hitting $102.11. 911,170 shares of the company's stock were exchanged, compared to its average volume of 752,553. 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 12 month low of $79.83 and a 12 month high of $155.88. The firm has a 50-day moving average of $104.35 and a two-hundred day moving average of $102.10. The company has a market cap of $5.85 billion, a PE ratio of 25.98 and a beta of 0.97.

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

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

Chord Energy Company 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.