Hsbc Holdings PLC Buys 28,084 Shares of Chord Energy Corporation $CHRD

Key Points

• Hsbc Holdings PLC has significantly increased its stake in Chord Energy Corporation by acquiring an additional 28,084 shares, bringing its total ownership to approximately 35,795 shares valued at $4,055,000.
• Several large investors have also made moves in Chord Energy, which is predominantly held by institutional investors, with 97.76% of the stock owned by such entities.
• Analysts have mixed views on Chord Energy, with price targets ranging from $112.00 to $166.00, and a current consensus rating of "Moderate Buy".

Hsbc Holdings PLC lifted its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 364.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,795 shares of the company's stock after acquiring an additional 28,084 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Chord Energy worth $4,055,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CHRD. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Chord Energy by 5,877.8% during the first 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 in the last quarter. Fifth Third Bancorp boosted its holdings in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after buying an additional 462 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Chord Energy by 184.0% during the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock worth $82,000 after buying an additional 471 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in Chord Energy during the first quarter worth approximately $91,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Up 0.0%

Shares of Chord Energy stock traded up $0.05 during midday trading on Friday, reaching $109.89. 526,774 shares of the company's stock traded hands, compared to its average volume of 815,510. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 8.64 and a beta of 0.97. The company's 50 day simple moving average is $104.80 and its 200 day simple moving average is $101.63. 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 52 week low of $79.83 and a 52 week high of $150.11.

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 for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion for 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%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.69 EPS. Equities analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is 132.32%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CHRD. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. UBS Group raised their target price on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company raised their target price on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Citigroup raised their target price on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Mizuho decreased their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.92.

About Chord Energy

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.