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

A number of other institutional investors have also added to or reduced their stakes in CHRD. Nuveen LLC bought a new position in Chord Energy in the first quarter valued at $36,837,000. Squarepoint Ops LLC grew its position in Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after acquiring an additional 264,828 shares during the last quarter. Sourcerock Group LLC grew its position in Chord Energy by 214.9% during the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after acquiring an additional 214,870 shares during the last quarter. Thomist Capital Management LP bought a new position in shares of Chord Energy during the 4th quarter valued at $18,446,000. Finally, Woodline Partners LP grew its holdings in shares of Chord Energy by 16.4% during the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company's stock valued at $87,569,000 after purchasing an additional 105,448 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHRD. Piper Sandler raised their price objective on Chord Energy from $166.00 to $169.00 and gave the company an "overweight" rating in a research note on Tuesday. Wells Fargo & Company raised their price target on Chord Energy from $146.00 to $149.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Mizuho cut their target price on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a report on Monday. Finally, Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.42.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business'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 transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is owned by insiders.

Chord Energy Stock Performance

Chord Energy stock traded down $0.36 during midday trading on Wednesday, reaching $106.06. 346,633 shares of the company traded hands, compared to its average volume of 843,969. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.99 and a beta of 0.97. The business has a 50 day moving average of $105.88 and a two-hundred day moving average of $101.04. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $140.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 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 during the quarter, compared to the consensus estimate of $984.07 million. During the same period in the prior year, the business posted $4.69 earnings per share. Chord Energy's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy's payout ratio is presently 132.32%.

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.