Chord Energy Corporation (NASDAQ:CHRD) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 742,327 shares of the company's stock after acquiring an additional 53,927 shares during the period. Bank of New York Mellon Corp owned approximately 1.25% of Chord Energy worth $83,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy during the fourth quarter valued at approximately $25,000. Twin Tree Management LP bought a new position in Chord Energy in the fourth quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after buying an additional 224 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 worth $79,000 after buying an additional 462 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Chord Energy in the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Chord Energy Stock Performance

NASDAQ:CHRD traded down $2.47 during mid-day trading on Monday, hitting $106.72. The company's stock had a trading volume of 411,508 shares, compared to its average volume of 856,471. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $181.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 7.14 and a beta of 0.96. The business's fifty day moving average is $97.94 and its two-hundred day moving average is $104.55.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $5.10 EPS. The company's revenue for the quarter was up 12.0% on a year-over-year basis. Analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.87%. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Bank of America reduced their price target 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. Citigroup upped their price target on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler reduced their price target on Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued 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 an average rating of "Moderate Buy" and a consensus target price of $151.08.

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.