Royce & Associates LP Buys 7,632 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• Royce & Associates LP increased its position in Chord Energy Corporation by 13.3%, owning approximately 64,857 shares valued at $7.3 million, according to a recent filing with the SEC.
• Chord Energy recently announced a quarterly dividend of $1.30 per share, representing an annualized yield of 4.78% with a payout ratio of 34.78%.
• Various brokerages have adjusted their price targets for Chord Energy, with Citigroup raising it to $125.00 and Wells Fargo increasing theirs to $143.00, while two analysts have assigned a sell rating for the stock.

Royce & Associates LP grew its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 13.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 64,857 shares of the company's stock after buying an additional 7,632 shares during the period. Royce & Associates LP owned 0.11% of Chord Energy worth $7,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Altshuler Shaham Ltd acquired a new stake in shares of Chord Energy during the fourth quarter worth $25,000. Hexagon Capital Partners LLC increased its holdings 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 worth $50,000 after acquiring an additional 341 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy during the 4th quarter worth approximately $80,000. Fifth Third Bancorp raised its holdings in Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after buying an additional 462 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Chord Energy by 184.0% during the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company's stock worth $82,000 after buying an additional 471 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHRD shares. Citigroup boosted their price target on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Royal Bank Of Canada dropped their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company upped their target price on Chord Energy from $142.00 to $143.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Mizuho dropped their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler upped their target price on Chord Energy from $159.00 to $164.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $151.54.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $0.46 on Tuesday, hitting $113.48. The company's stock had a trading volume of 324,756 shares, compared to its average volume of 842,461. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $100.73 and a two-hundred day moving average of $103.62. The firm has a market capitalization of $6.55 billion, a P/E ratio of 7.62 and a beta of 0.96. 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 earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. 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. Research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

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. This represents a $5.20 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio is currently 34.78%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president directly owned 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

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.