Chord Energy Corporation $CHRD Holdings Raised by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Chord Energy Corporation by 1.5%, bringing its total holdings to approximately $56.87 million.
• Chord Energy recently announced a quarterly dividend of $1.30, with a dividend yield of 5.1%, despite a payout ratio of 132.32%.
• Analysts have given Chord Energy's stock a consensus rating of "Moderate Buy" with a target price averaging $148.77.

Charles Schwab Investment Management Inc. grew its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 504,501 shares of the company's stock after purchasing an additional 7,428 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.85% of Chord Energy worth $56,867,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. American Assets Inc. purchased a new stake in shares of Chord Energy during the first quarter valued at approximately $789,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Chord Energy during the first quarter valued at approximately $331,000. Factorial Partners LLC increased its stake in shares of Chord Energy by 3.9% in the first quarter. Factorial Partners LLC now owns 53,000 shares of the company's stock worth $5,974,000 after buying an additional 2,000 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Chord Energy by 4.2% in 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 last quarter. Finally, Lindenwold Advisors INC bought a new stake in shares of Chord Energy in the first quarter worth $258,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total transaction of $101,640.00. Following the completion of the transaction, the executive vice president owned 17,669 shares of the company's stock, valued at approximately $1,795,877.16. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company's stock.

Chord Energy Stock Performance

Chord Energy stock traded up $0.0470 during mid-day trading on Tuesday, reaching $101.7570. The company's stock had a trading volume of 345,551 shares, compared to its average volume of 842,131. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $154.75. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 25.89 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $104.44 and a 200-day moving average price of $101.83.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. 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 firm posted $4.69 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. Chord Energy's payout ratio is 132.32%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CHRD shares. Citigroup lifted their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. UBS Group restated a "buy" rating and issued a $120.00 price target (up previously from $113.00) on shares of Chord Energy in a research note on Tuesday, August 12th. Bank of America dropped their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company lifted their price target on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and a consensus price target of $148.77.

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.