CCM Investment Group LLC Invests $748,000 in Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• CCM Investment Group LLC has invested $748,000 in Chord Energy Corporation, acquiring 6,697 shares in the company during the 1st quarter.
• Chord Energy reported a quarterly earnings per share of $1.79, missing analysts' estimates by $0.09, despite generating $1.18 billion in revenue, exceeding expectations of $984.07 million.
• The company has announced a quarterly dividend of $1.30, representing a 5.1% yield with a high dividend payout ratio of 132.32%.

CCM Investment Group LLC bought a new position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,697 shares of the company's stock, valued at approximately $748,000.

Several other large investors have also recently modified their holdings of the business. National Bank of Canada FI lifted its position in Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock valued at $592,000 after purchasing an additional 106 shares during the last quarter. MGO One Seven LLC lifted its position in Chord Energy by 6.7% during the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after purchasing an additional 111 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Chord Energy by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock valued at $329,000 after purchasing an additional 118 shares during the last quarter. ProShare Advisors LLC lifted its position in Chord Energy by 6.0% during the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after purchasing an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in 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 valued at $2,159,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Piper Sandler lifted their target price on shares of Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Mizuho lowered their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Bank of America lowered their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $151.54.

Chord Energy Trading Up 1.5%

NASDAQ:CHRD opened at $101.06 on Monday. The company has a fifty day moving average of $103.58 and a 200 day moving average of $102.45. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $156.12. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.79 billion, a P/E ratio of 25.72 and a beta of 0.97.

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). The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.69 earnings per share. On average, research 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 will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be given a $1.30 dividend. 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 5.1%. Chord Energy's dividend payout ratio 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.

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