SG Americas Securities LLC Increases Stake in Chord Energy Co. (NASDAQ:CHRD)

SG Americas Securities LLC boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 309.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,092 shares of the company's stock after acquiring an additional 8,385 shares during the quarter. SG Americas Securities LLC's holdings in Chord Energy were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CHRD. Victory Capital Management Inc. raised its position in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after acquiring an additional 619,021 shares in the last quarter. FMR LLC raised its position in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after acquiring an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Chord Energy during the fourth quarter valued at approximately $43,745,000. Squarepoint Ops LLC raised its position in Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after acquiring an additional 264,828 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Chord Energy during the fourth quarter valued at approximately $29,984,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. The trade was 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 through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $105.71 on Tuesday. The business's 50 day moving average price is $93.85 and its 200-day moving average price is $106.41. The firm has a market capitalization of $6.11 billion, a PE ratio of 5.44, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.10 earnings per share. As a group, equities research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is currently 34.78%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHRD. Piper Sandler dropped their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, May 30th. 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. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Finally, Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.54.

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.

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