AlphaQuest LLC Lowers Stock Holdings in Chord Energy Corporation $CHRD

Key Points

• AlphaQuest LLC has reduced its holdings in Chord Energy Corporation by 79.0%, now owning only 1,740 shares valued at $196,000.
• Chord Energy reported quarterly earnings of $1.79 per share, missing estimates, but its revenue rose by 5.3% year-over-year, reaching $1.18 billion.
• The company will pay a dividend of $1.30 on September 8th, with an annualized dividend yield of 4.7%.

AlphaQuest LLC reduced its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 79.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,740 shares of the company's stock after selling 6,539 shares during the period. AlphaQuest LLC's holdings in Chord Energy were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI boosted its position in shares of Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock worth $592,000 after buying an additional 106 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Chord Energy by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock worth $329,000 after buying an additional 118 shares during the period. ProShare Advisors LLC boosted its position in shares of Chord Energy by 6.0% during the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock worth $335,000 after buying an additional 163 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Chord Energy by 1.0% during the first quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock worth $2,159,000 after buying an additional 190 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its position in shares of Chord Energy by 3.9% during the first quarter. Avidian Wealth Enterprises LLC now owns 5,347 shares of the company's stock worth $603,000 after buying an additional 200 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Up 0.0%

Chord Energy stock opened at $109.89 on Friday. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $150.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The stock has a market cap of $6.29 billion, a PE ratio of 27.96 and a beta of 0.97. The stock's fifty day moving average is $104.80 and its two-hundred day moving average is $101.58.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $984.07 million. During the same quarter in the prior year, the business earned $4.69 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

Insiders Place Their Bets

In other Chord Energy 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 sale, the executive vice president directly owned 14,650 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CHRD has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. UBS Group increased their price objective on Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler increased their price objective on Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Mizuho reduced their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.92.

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.

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