Deutsche Bank AG Increases Holdings in Chord Energy Corporation $CHRD

Key Points

• Deutsche Bank AG increased its stake in Chord Energy Corporation by 34.8% in the first quarter, owning 143,049 shares valued at about $16.12 million.
• Chord Energy recently reported a quarterly earnings miss with $1.79 EPS, falling short of analysts' estimates, though the company's revenue was up 5.3% year-over-year at $1.18 billion.
• The company declared a quarterly dividend of $1.30 per share, yielding 5.1%, with a dividend payout ratio of 132.32%.

Deutsche Bank AG raised its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,049 shares of the company's stock after buying an additional 36,945 shares during the period. Deutsche Bank AG owned about 0.24% of Chord Energy worth $16,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of Chord Energy by 19.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock worth $100,011,000 after buying an additional 136,751 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Chord Energy by 6.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock valued at $89,198,000 after purchasing an additional 47,649 shares during the period. Woodline Partners LP boosted its holdings in Chord Energy by 16.4% in the fourth quarter. Woodline Partners LP now owns 748,966 shares of the company's stock valued at $87,569,000 after purchasing an additional 105,448 shares during the period. Bank of New York Mellon Corp boosted its holdings in Chord Energy by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock valued at $83,675,000 after purchasing an additional 53,927 shares during the period. Finally, Palo Duro Investment Partners LP boosted its holdings in Chord Energy by 13.6% in the fourth quarter. Palo Duro Investment Partners LP now owns 668,750 shares of the company's stock valued at $78,190,000 after purchasing an additional 80,063 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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 report on Friday. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Piper Sandler restated an "overweight" rating and issued a $166.00 price target (up from $164.00) on shares of Chord Energy in a research note on Thursday. Finally, Mizuho cut their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.77.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $0.3750 during midday trading on Tuesday, reaching $102.0850. 93,356 shares of the company were exchanged, compared to its average volume of 840,726. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $154.75. The stock has a fifty day simple moving average of $104.44 and a 200 day simple moving average of $101.83. The stock has a market cap of $5.85 billion, a P/E ratio of 25.97 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results 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). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. During the same period in the prior year, the business earned $4.69 EPS. The business's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

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

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.64, for a total value of $101,640.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

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.