Lynx Investment Advisory Makes New $310,000 Investment in Chord Energy Corporation $CHRD

Key Points

• Lynx Investment Advisory has made a new investment in Chord Energy Corporation, acquiring 2,748 shares valued at approximately $310,000 during the first quarter.
• Chord Energy recently reported quarterly earnings with a net revenue of $1.18 billion, exceeding analyst expectations, despite a slight earnings per share miss.
• The company announced a quarterly dividend of $1.30 per share, yielding 5.0%, though its dividend payout ratio stands at a high 132.32%.

Lynx Investment Advisory acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,748 shares of the company's stock, valued at approximately $310,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company's stock worth $26,651,000 after buying an additional 88,490 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 last quarter. Hsbc Holdings PLC raised its holdings in shares of Chord Energy by 364.2% in the first quarter. Hsbc Holdings PLC now owns 35,795 shares of the company's stock valued at $4,055,000 after purchasing an additional 28,084 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Chord Energy in the first quarter valued at about $1,940,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Chord Energy by 8.4% in the first quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock valued at $3,290,000 after purchasing an additional 2,263 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $104.87 on Friday. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $140.15. The company has a 50-day simple moving average of $105.93 and a 200 day simple moving average of $101.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The company has a market capitalization of $6.00 billion, a PE ratio of 26.68 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the business posted $4.69 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Bank of America lowered their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a report on Friday, August 15th. Finally, Citigroup increased their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chord Energy has an average rating of "Moderate Buy" and an average price target of $148.00.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction dated 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 in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

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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