Drucker Wealth 3.0 LLC Makes New Investment in Chord Energy Corporation $CHRD

Key Points

• Drucker Wealth 3.0 LLC has acquired 4,894 shares of Chord Energy Corporation (NASDAQ:CHRD), valued at approximately $523,000, during the second quarter.
• Analysts have mixed ratings for Chord Energy, with UBS and Bank of America setting price targets at $130.00 and $123.00 respectively, while Mizuho has lowered its target to $142.00.
• Chord Energy recently announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 5.7% despite a high dividend payout ratio of 132.32%.

Drucker Wealth 3.0 LLC bought a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,894 shares of the company's stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after purchasing an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after purchasing an additional 529 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Chord Energy by 254.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after purchasing an additional 493 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chord Energy by 89.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company's stock worth $67,000 after purchasing an additional 327 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after purchasing an additional 462 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHRD. UBS Group increased their price target on shares of Chord Energy from $122.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Bank of America increased their price target on shares of Chord Energy from $112.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Mizuho reduced their price target on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chord Energy in a research report on Wednesday. Finally, Piper Sandler reduced their price target on shares of Chord Energy from $169.00 to $167.00 and set an "overweight" rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $143.42.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $90.59 on Friday. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 23.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $103.08 and a 200 day simple moving average of $100.20. Chord Energy Corporation has a one year low of $79.83 and a one year high of $136.38.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. Chord Energy's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.69 EPS. Research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. Chord Energy's dividend payout ratio (DPR) is presently 132.32%.

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.

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