Invesco Ltd. Sells 15,826 Shares of Chord Energy Corporation $CHRD

Key Points

• Invesco Ltd. has reduced its stake in Chord Energy Corporation by 5% to approximately $33.74 million, holding 299,315 shares after selling 15,826 shares.
• Chord Energy's latest earnings report indicated a missed EPS estimate of $1.79 compared to the consensus of $1.88, though revenues exceeded expectations at $1.18 billion.
• The company recently announced a quarterly dividend of $1.30 per share, representing a 5.1% yield, amidst a high dividend payout ratio of 132.32%.

Invesco Ltd. cut its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,315 shares of the company's stock after selling 15,826 shares during the period. Invesco Ltd. owned 0.50% of Chord Energy worth $33,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. Encompass Capital Advisors LLC acquired a new position in Chord Energy in the fourth quarter valued at about $43,745,000. Squarepoint Ops LLC boosted its position in Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after buying an additional 264,828 shares in the last quarter. Sourcerock Group LLC boosted its position in Chord Energy by 214.9% in the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after buying an additional 214,870 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Chord Energy in the fourth quarter valued at about $23,136,000. Finally, Freestone Grove Partners LP acquired a new position in Chord Energy in the fourth quarter valued at about $21,097,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the completion of the sale, the executive vice president owned 17,669 shares of the company's stock, valued at approximately $1,795,877.16. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Chord Energy Trading Up 3.9%

NASDAQ CHRD traded up $3.93 during trading hours on Friday, hitting $105.93. The company's stock had a trading volume of 660,381 shares, compared to its average volume of 795,202. The stock has a fifty day moving average of $104.50 and a 200 day moving average of $101.67. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $154.75. The firm has a market capitalization of $6.07 billion, a P/E ratio of 26.95 and a beta of 0.97. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same quarter in the prior year, the company earned $4.69 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. Equities 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. 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 4.9%. The ex-dividend date is Thursday, August 21st. Chord Energy's dividend payout ratio is currently 132.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHRD shares. Citigroup boosted their price target on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Piper Sandler upped their target price on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. UBS Group upped their target price on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Mizuho reduced their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $148.92.

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.