Pacer Advisors Inc. lessened its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 65.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 638,238 shares of the company's stock after selling 1,233,918 shares during the period. Pacer Advisors Inc. owned 1.07% of Chord Energy worth $71,942,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Chord Energy during the fourth quarter worth $25,000. Hexagon Capital Partners LLC raised its holdings in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares during the last quarter. Fifth Third Bancorp raised its holdings in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after buying an additional 462 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Chord Energy during the fourth quarter worth $80,000. Finally, GAMMA Investing LLC raised its holdings in Chord Energy by 184.0% during the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock worth $82,000 after buying an additional 471 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.
Chord Energy Stock Performance
CHRD traded down $0.79 during trading on Tuesday, hitting $112.24. 182,764 shares of the company traded hands, compared to its average volume of 841,451. The firm has a market cap of $6.48 billion, a P/E ratio of 7.51 and a beta of 0.96. The stock's fifty day moving average is $100.73 and its 200 day moving average is $103.62. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. Chord Energy Corporation has a one year low of $79.83 and a one year high of $173.53.
Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.10 earnings per share. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.
Chord Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 4.63%. Chord Energy's payout ratio is currently 34.78%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Chord Energy from $142.00 to $143.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Bank of America lowered their price objective 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. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Piper Sandler upped their price objective on shares of Chord Energy from $159.00 to $164.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Mizuho reduced their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average price target of $151.54.
Check Out Our Latest Stock Report on Chord Energy
Insiders Place Their Bets
In related news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president owned 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company's stock.
About Chord Energy
(
Free Report)
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.
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