Ceredex Value Advisors LLC Purchases 3,000 Shares of Chord Energy Corporation $CHRD

Key Points

• Ceredex Value Advisors LLC increased its stake in Chord Energy Corporation by 2.9% during the first quarter, owning 108,000 shares valued at $12.17 million.
• The company reported $1.79 earnings per share for the quarter, which was below analysts' expectations of $1.88, despite a significant increase in revenue to $1.18 billion.
• Chord Energy announced a quarterly dividend of $1.30 per share, resulting in an annualized yield of 4.9%, pending the approval of shareholders on the record date of August 21st.

Ceredex Value Advisors LLC boosted its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,000 shares of the company's stock after purchasing an additional 3,000 shares during the period. Ceredex Value Advisors LLC owned approximately 0.18% of Chord Energy worth $12,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHRD. Synovus Financial Corp raised its position in shares of Chord Energy by 11.7% in the first quarter. Synovus Financial Corp now owns 6,402 shares of the company's stock valued at $722,000 after buying an additional 673 shares during the last quarter. Valueworks LLC increased its holdings in shares of Chord Energy by 1.6% in the 1st quarter. Valueworks LLC now owns 178,554 shares of the company's stock valued at $20,114,000 after acquiring an additional 2,860 shares during the period. Martingale Asset Management L P acquired a new position in Chord Energy in the 1st quarter valued at $4,123,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Chord Energy by 79.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,032 shares of the company's stock worth $116,000 after purchasing an additional 456 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Chord Energy by 364.2% in the 1st quarter. Hsbc Holdings PLC now owns 35,795 shares of the company's stock worth $4,055,000 after buying an additional 28,084 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Chord Energy Trading Up 0.0%

Shares of NASDAQ CHRD traded up $0.05 during trading on Friday, reaching $109.89. The company had a trading volume of 526,774 shares, compared to its average volume of 815,510. The company's fifty day moving average price is $104.80 and its 200-day moving average price is $101.63. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $150.11. 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 stock has a market cap of $6.29 billion, a P/E ratio of 27.96 and a beta of 0.97.

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 return on equity of 9.02% and a net margin of 5.02%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. During the same period last year, the company posted $4.69 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. Chord Energy's payout ratio is currently 132.32%.

Analyst Upgrades and Downgrades

CHRD has been the topic of several research reports. Piper Sandler raised their price target on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Citigroup boosted their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Bank of America cut their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Finally, Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and an average 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.