Townsquare Capital LLC Purchases 4,553 Shares of Chord Energy Corporation $CHRD

Key Points

• Townsquare Capital LLC increased its stake in Chord Energy Corporation by 136.8% in the first quarter, holding 7,881 shares worth $888,000 at the end of the quarter.
• Chord Energy reported earnings per share of $1.79, missing the consensus estimate of $1.88, while revenue for the quarter reached $1.18 billion, exceeding analyst expectations.
• The company announced a quarterly dividend of $1.30 per share, with an annualized total of $5.20 and a yield of 5.1%, set to be paid on September 8th.

Townsquare Capital LLC increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 136.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,881 shares of the company's stock after buying an additional 4,553 shares during the quarter. Townsquare Capital LLC's holdings in Chord Energy were worth $888,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CHRD. Altshuler Shaham Ltd acquired a new stake in shares of Chord Energy in the 4th quarter valued at $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after purchasing an additional 341 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after purchasing an additional 462 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Chord Energy by 184.0% in the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company's stock valued at $82,000 after purchasing an additional 471 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in shares of Chord Energy in the 1st quarter valued at $91,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHRD shares. Mizuho reduced 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. Bank of America cut 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. Wells Fargo & Company raised their price objective on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a report on Friday. Piper Sandler reissued an "overweight" rating and set a $166.00 price objective (up previously from $164.00) on shares of Chord Energy in a report on Thursday. Finally, Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $148.77.

Chord Energy Trading Down 0.7%

Chord Energy stock traded down $0.67 during trading hours on Monday, reaching $101.45. 383,631 shares of the company's stock were exchanged, compared to its average volume of 842,870. 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 firm's 50 day simple moving average is $104.35 and its 200 day simple moving average is $101.91. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $155.88. The firm has a market capitalization of $5.81 billion, a PE ratio of 25.81 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The business 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 firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.69 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, August 21st. Chord Energy's payout ratio is currently 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $101.64, for a total value of $101,640.00. Following the transaction, the executive vice president directly owned 17,669 shares of the company's stock, valued at $1,795,877.16. The trade was a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate 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.