Swiss National Bank Sells 3,200 Shares of Chord Energy Corporation $CHRD

Key Points

• The Swiss National Bank reduced its stake in Chord Energy Corporation (NASDAQ:CHRD) by 2.6%, now holding approximately 0.20% of the company valued at around $13.3 million.
• Chord Energy recently announced a quarterly dividend of $1.30, representing a 5.1% dividend yield with a payout ratio of 132.32%.
• Despite reporting a miss in EPS estimates for the latest quarter, Chord Energy's revenue increased up 5.3% year-over-year, reaching $1.18 billion.

Swiss National Bank lessened its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,422 shares of the company's stock after selling 3,200 shares during the period. Swiss National Bank owned 0.20% of Chord Energy worth $13,349,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC lifted its position in Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after acquiring an additional 341 shares during the last quarter. Fifth Third Bancorp lifted its position 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 acquiring an additional 462 shares during the last quarter. GAMMA Investing LLC lifted its position 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 acquiring an additional 471 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in Chord Energy during the 1st quarter worth $91,000. Institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CHRD shares. UBS Group reissued a "buy" rating and set a $120.00 target price (up previously from $113.00) on shares of Chord Energy in a research report on Tuesday, August 12th. Mizuho cut 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 report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and set a $166.00 target price (up previously from $164.00) on shares of Chord Energy in a research report on Thursday. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Bank of America cut their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $148.77.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the sale, the executive vice president owned 17,669 shares of the company's stock, valued at $1,795,877.16. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Performance

Chord Energy stock traded down $0.67 during trading hours on Monday, hitting $101.45. The stock had a trading volume of 383,631 shares, compared to its average volume of 842,870. The company has a 50-day moving average of $104.35 and a two-hundred day moving average of $101.91. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.81 billion, a PE ratio of 25.81 and a beta of 0.97. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $155.88.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $4.69 EPS. On average, equities research analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. Chord Energy's payout ratio is presently 132.32%.

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.