Chord Energy Corporation $CHRD Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 1,191.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,362 shares of the company's stock after buying an additional 41,850 shares during the period. M&T Bank Corp owned approximately 0.08% of Chord Energy worth $4,205,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Citigroup Inc. raised its stake in shares of Chord Energy by 31.1% during the third quarter. Citigroup Inc. now owns 111,590 shares of the company's stock valued at $11,089,000 after purchasing an additional 26,499 shares during the period. Phocas Financial Corp. boosted its stake in shares of Chord Energy by 20.7% in the fourth quarter. Phocas Financial Corp. now owns 72,153 shares of the company's stock valued at $6,689,000 after purchasing an additional 12,356 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Chord Energy during the 3rd quarter valued at $91,434,000. Unison Advisors LLC acquired a new stake in Chord Energy during the 4th quarter valued at $701,000. Finally, AlphaQuest LLC increased its stake in Chord Energy by 1,576.7% during the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company's stock worth $2,776,000 after buying an additional 26,267 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, March 31st. Royal Bank Of Canada dropped their target price on Chord Energy from $135.00 to $128.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 13th. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Weiss Ratings raised Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 17th. Finally, Truist Financial raised their price objective on Chord Energy from $169.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $152.23.

Insider Transactions at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the sale, the director owned 25,181 shares of the company's stock, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is currently owned by corporate insiders.

Chord Energy Price Performance

Shares of CHRD stock opened at $135.31 on Monday. The firm has a fifty day moving average of $125.85 and a two-hundred day moving average of $104.82. The firm has a market cap of $7.67 billion, a P/E ratio of 214.78 and a beta of 0.66. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $148.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company's revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 EPS. As a group, research analysts anticipate that Chord Energy Corporation will post 15.74 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.8%. Chord Energy's dividend payout ratio is presently 825.40%.

Chord Energy Company Profile

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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