Magnetar Financial LLC Has $10.48 Million Stake in Chord Energy Corporation $CHRD

Key Points

• Magnetar Financial LLC significantly increased its stake in Chord Energy Corporation by 218.1% in the first quarter, owning 92,993 shares valued at approximately $10.48 million.
• Chord Energy reported a missed earnings estimate with $1.79 EPS compared to the consensus estimate of $1.88, while also achieving a significant revenue increase of 5.3% year-over-year.
• The company has declared a quarterly dividend of $1.30 per share, resulting in an annual yield of 4.7%, despite having a high dividend payout ratio of 132.32%.

Magnetar Financial LLC raised its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 218.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,993 shares of the company's stock after purchasing an additional 63,756 shares during the quarter. Magnetar Financial LLC owned about 0.16% of Chord Energy worth $10,482,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after buying an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after purchasing an additional 529 shares in the last quarter. Fifth Third Bancorp boosted its stake in Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after acquiring an additional 462 shares during the last quarter. GAMMA Investing LLC boosted its stake in Chord Energy by 184.0% during the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company's stock valued at $82,000 after acquiring an additional 471 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in Chord Energy during the 1st quarter valued at $91,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Mizuho dropped their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group boosted 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. Piper Sandler lifted 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. Finally, Citigroup boosted their price objective 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. One research 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 stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $148.92.

Chord Energy Trading Up 1.6%

Shares of NASDAQ:CHRD traded up $1.76 during trading on Tuesday, hitting $111.65. 562,533 shares of the company's stock were exchanged, compared to its average volume of 834,627. The firm has a market cap of $6.39 billion, a P/E ratio of 28.41 and a beta of 0.97. The firm has a 50-day moving average price of $105.00 and a two-hundred day moving average price of $101.51. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $146.02.

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 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 company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same quarter last year, the company earned $4.69 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

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

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company's stock in a transaction dated 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 directly owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company's stock.

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.