Chord Energy Corporation $CHRD Shares Purchased by Cwm LLC

Key Points

• Cwm LLC increased its stake in Chord Energy Corporation by 254.5%, owning 27,484 shares valued at approximately $2.66 million as of the latest filing.
• Analysts have revised Chord Energy's ratings, with Wall Street Zen shifting from a "sell" to a "hold" rating, while other firms have set price targets ranging from $125.00 to $169.00.
• The company recently announced a quarterly dividend of $1.30 per share, translating to an annualized yield of 5.8%, despite a dividend payout ratio of 132.32%.

Cwm LLC boosted its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 254.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,484 shares of the company's stock after buying an additional 19,732 shares during the period. Cwm LLC's holdings in Chord Energy were worth $2,662,000 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. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after buying an additional 529 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Chord Energy by 254.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after buying an additional 493 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Chord Energy by 89.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company's stock worth $67,000 after buying an additional 327 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after buying an additional 462 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on CHRD shares. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "hold (c-)" rating on shares of Chord Energy in a research note on Wednesday, October 8th. Piper Sandler cut their price objective on Chord Energy from $169.00 to $167.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. Roth Capital assumed coverage on Chord Energy in a report on Monday, October 13th. They issued a "buy" rating and a $130.00 price objective on the stock. Finally, Citigroup raised their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.38.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $89.74 on Friday. The company has a market cap of $5.14 billion, a P/E ratio of 22.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. Chord Energy Corporation has a one year low of $79.83 and a one year high of $136.38. The business's 50-day simple moving average is $101.79 and its 200 day simple moving average is $99.43.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate 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 business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.69 earnings per share. On average, sell-side analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is presently 132.32%.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Chord Energy 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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