Bank of New York Mellon Corp Purchases 53,927 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Bank of New York Mellon Corp grew its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 7.8% in the first quarter, according to its most recent filing with the SEC. The fund 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 1.25% of Chord Energy worth $83,675,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. IFM Investors Pty Ltd bought a new position in shares of Chord Energy during the first quarter worth about $1,206,000. Miller Howard Investments Inc. NY increased its position in Chord Energy by 12.6% during the 1st quarter. Miller Howard Investments Inc. NY now owns 14,081 shares of the company's stock valued at $1,587,000 after purchasing an additional 1,575 shares during the period. Redmont Wealth Advisors LLC bought a new position in Chord Energy during the 1st quarter worth approximately $355,000. New York State Teachers Retirement System lifted its position in shares of Chord Energy by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock worth $3,290,000 after purchasing an additional 2,263 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its position in shares of Chord Energy by 3.9% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 5,347 shares of the company's stock worth $603,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Up 1.0%

NASDAQ:CHRD traded up $1.08 during trading hours on Friday, hitting $109.19. 581,260 shares of the company traded hands, compared to its average volume of 858,700. Chord Energy Corporation has a one year low of $79.83 and a one year high of $181.17. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The company has a market cap of $6.31 billion, a PE ratio of 6.92 and a beta of 0.96. The firm's 50-day simple moving average is $97.94 and its 200-day simple moving average is $104.67.

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

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CHRD. Wells Fargo & Company lowered their target price on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Piper Sandler decreased their price target on Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.08.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the 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 approximately $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

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.