OMERS ADMINISTRATION Corp Makes New Investment in Chord Energy Corporation $CHRD

Key Points

• OMERS Administration Corp acquired 27,487 shares of Chord Energy Corporation valued at approximately $3,098,000 during the first quarter.
• Chord Energy reported quarterly earnings of $1.79 per share, missing estimates, while revenue was up by 5.3% year-over-year to $1.18 billion.
• Chord Energy announced a quarterly dividend of $1.30 per share, with a yield of 4.7%, although its dividend payout ratio is currently 132.32%.

OMERS ADMINISTRATION Corp bought a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,487 shares of the company's stock, valued at approximately $3,098,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 47,649 shares during the period. Hsbc Holdings PLC lifted its holdings in 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 acquiring an additional 28,084 shares during the period. Aurora Investment Counsel acquired a new position in shares of Chord Energy during the 1st quarter worth approximately $1,940,000. New York State Teachers Retirement System raised its stake in shares of Chord Energy by 8.4% during the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock worth $3,290,000 after buying an additional 2,263 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in shares of Chord Energy by 56.9% during the 1st quarter. Perigon Wealth Management LLC now owns 35,642 shares of the company's stock worth $4,018,000 after buying an additional 12,925 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Up 1.6%

CHRD stock traded up $1.76 during trading on Tuesday, reaching $111.65. 566,055 shares of the stock were exchanged, compared to its average volume of 834,649. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 28.41 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. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $146.02. The business has a 50 day moving average price of $105.00 and a 200-day moving average price of $101.51.

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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.69 earnings per share. On average, research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

CHRD has been the subject of several research analyst reports. Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Bank of America lowered their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Mizuho decreased their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Citigroup boosted their target price on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Piper Sandler increased their price target on Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $148.92.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently 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.