IFM Investors Pty Ltd Makes New $1.21 Million Investment in Chord Energy Corporation $CHRD

Key Points

• IFM Investors Pty Ltd recently invested approximately $1.21 million in Chord Energy Corporation, purchasing 10,697 shares in the first quarter.
• Chord Energy's stock has seen multiple analyst upgrades, with Citigroup and UBS increasing their target prices, while an average rating of "Moderate Buy" has been assigned by analysts.
• The company recently declared a $1.30 quarterly dividend, yielding 5.0%, though its payout ratio stands at 132.32%.

IFM Investors Pty Ltd bought a new position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,697 shares of the company's stock, valued at approximately $1,206,000.

Several other large investors also recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position in Chord Energy by 2.1% in the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock worth $592,000 after acquiring an additional 106 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Chord Energy by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock valued at $329,000 after purchasing an additional 118 shares during the last quarter. ProShare Advisors LLC raised its stake in Chord Energy by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after purchasing an additional 163 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Chord Energy by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock valued at $2,159,000 after purchasing an additional 190 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in Chord Energy by 3.9% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 5,347 shares of the company's stock valued at $603,000 after purchasing an additional 200 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Trading Up 4.0%

Chord Energy stock traded up $4.11 during trading hours on Tuesday, reaching $106.42. 1,674,454 shares of the company's stock traded hands, compared to its average volume of 846,886. 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 fifty-two week low of $79.83 and a fifty-two week high of $140.15. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.08 and a beta of 0.97. The firm's 50 day moving average is $105.91 and its 200-day moving average is $101.00.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.69 earnings per share. On average, analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHRD shares. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup increased their price objective on shares of 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 increased their price objective on shares of Chord Energy from $166.00 to $169.00 and gave the company an "overweight" rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. Finally, Mizuho dropped their price objective on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $148.25.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction that occurred 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 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 is accessible through this link. Company 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.