Chord Energy Corporation $CHRD Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Chord Energy Corporation by 51.8%, acquiring a total of 137,456 shares worth approximately $15.5 million.
• Chord Energy recently reported a quarterly earnings miss, with $1.79 EPS compared to the expected $1.88, although it achieved revenue growth of 5.3% year-over-year, totaling $1.18 billion.
• The company announced a $1.30 quarterly dividend, reflecting an annualized payout of $5.20 and a yield of 5.0%, though its payout ratio stands at 132.32%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 51.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,456 shares of the company's stock after purchasing an additional 46,885 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.24% of Chord Energy worth $15,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in Chord Energy during the first quarter valued at approximately $3,615,000. Invenomic Capital Management LP boosted its position in shares of Chord Energy by 14.1% in the first quarter. Invenomic Capital Management LP now owns 357,458 shares of the company's stock worth $40,293,000 after purchasing an additional 44,212 shares during the period. Gotham Asset Management LLC boosted its position in shares of Chord Energy by 864.5% in the first quarter. Gotham Asset Management LLC now owns 100,775 shares of the company's stock worth $11,359,000 after purchasing an additional 90,327 shares during the period. Hancock Whitney Corp boosted its position in shares of Chord Energy by 15.8% in the first quarter. Hancock Whitney Corp now owns 2,145 shares of the company's stock worth $242,000 after purchasing an additional 293 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in shares of Chord Energy by 4.5% in the first quarter. Clark Capital Management Group Inc. now owns 6,046 shares of the company's stock worth $682,000 after buying an additional 260 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chord Energy

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 completion of the transaction, the executive vice president directly owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

Chord Energy Stock Down 0.7%

Shares of NASDAQ:CHRD traded down $0.71 during trading on Friday, reaching $104.16. The stock had a trading volume of 927,389 shares, compared to its average volume of 778,789. Chord Energy Corporation has a one year low of $79.83 and a one year high of $140.15. The company has a market capitalization of $5.96 billion, a P/E ratio of 26.50 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $105.93 and its 200 day simple moving average is $101.08.

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 analysts' consensus estimates of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.69 earnings per share. As a group, research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is presently 132.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHRD shares. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. UBS Group upped their price target on shares of Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. 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 research note on Thursday, August 14th. Citigroup upped their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Bank of America cut their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. One investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

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.