Sequoia Financial Advisors LLC Acquires Shares of 7,185 Chord Energy Corporation $CHRD

Key Points

• Sequoia Financial Advisors acquired 7,185 shares of Chord Energy Corporation, valued at approximately $696,000, signaling institutional interest in the company.
• In the most recent quarter, Chord Energy reported $1.79 earnings per share, missing the consensus estimate, but had a 5.3% year-over-year revenue increase.
• Chord Energy announced a quarterly dividend of $1.30, yielding 5.8%, despite a high dividend payout ratio of 132.32%.

Sequoia Financial Advisors LLC acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,185 shares of the company's stock, valued at approximately $696,000.

Several other institutional investors have also added to or reduced their stakes in CHRD. Nuveen LLC purchased a new stake in Chord Energy during the first quarter valued at about $36,837,000. HITE Hedge Asset Management LLC lifted its holdings in Chord Energy by 27.8% during the first quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company's stock valued at $50,275,000 after purchasing an additional 97,086 shares during the last quarter. Trexquant Investment LP lifted its holdings in Chord Energy by 176.1% during the first quarter. Trexquant Investment LP now owns 144,736 shares of the company's stock valued at $16,315,000 after purchasing an additional 92,320 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Chord Energy by 864.5% during the first quarter. Gotham Asset Management LLC now owns 100,775 shares of the company's stock valued at $11,359,000 after purchasing an additional 90,327 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company's stock valued at $26,651,000 after purchasing an additional 88,490 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company'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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

Chord Energy Stock Up 0.7%

CHRD stock opened at $89.74 on Friday. 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 company's 50 day moving average is $101.79 and its 200 day moving average is $99.43. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 22.83 and a beta of 0.94. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $136.38.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company 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%.The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $4.69 earnings per share. Sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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 5.8%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio is 132.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHRD. Wells Fargo & Company lowered their price target on shares of Chord Energy from $149.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday. Morgan Stanley lowered their price target on shares of Chord Energy from $131.00 to $128.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 14th. Piper Sandler lowered their price target on shares of Chord Energy from $169.00 to $167.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. Scotiabank began coverage on shares of Chord Energy in a report on Friday, September 19th. They issued a "sector perform" rating and a $120.00 price target on the stock. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Chord Energy in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and a consensus target price of $138.38.

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.

Want to see what other hedge funds are holding CHRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chord Energy Corporation (NASDAQ:CHRD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.