Northwest & Ethical Investments L.P. Takes $332,000 Position in Chord Energy Corporation $CHRD

Key Points

• Northwest & Ethical Investments L.P. invested approximately $332,000 in Chord Energy Corporation, acquiring 2,954 shares during the first quarter as per their SEC filing.
• Chord Energy's stock has received mixed analyst ratings, with Piper Sandler raising its price target to $166.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company declared a quarterly dividend of $1.30 per share, with an ex-dividend date of August 21st, representing an annualized dividend yield of 5.1%.

Northwest & Ethical Investments L.P. purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,954 shares of the company's stock, valued at approximately $332,000.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI lifted its position in shares of Chord Energy by 2.1% during the 1st quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock valued at $592,000 after buying an additional 106 shares during the last quarter. MGO One Seven LLC lifted its position in shares of Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after buying an additional 111 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Chord Energy by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock valued at $329,000 after buying an additional 118 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Chord Energy by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after buying an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Chord Energy by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock valued at $2,159,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

NASDAQ CHRD traded up $1.11 during trading on Monday, reaching $107.04. The company's stock had a trading volume of 770,416 shares, compared to its average volume of 804,489. The stock has a market capitalization of $6.13 billion, a PE ratio of 27.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a fifty day moving average of $104.52 and a 200 day moving average of $101.61. Chord Energy Corporation has a one year low of $79.83 and a one year high of $154.75.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.Chord Energy's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.69 earnings per share. Analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Mizuho dropped their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price objective on Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Citigroup increased their price objective on 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 dropped their price objective on 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 issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and an average price target of $148.92.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

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.