Trexquant Investment LP Has $16.32 Million Position in Chord Energy Corporation $CHRD

Key Points

• Trexquant Investment LP increased its stake in Chord Energy Corporation by 176.1%, acquiring an additional 92,320 shares and now holds approximately 0.24% of the company, valued at $16.3 million.
• Chord Energy has received mixed analyst ratings, with target price updates including a raise from Citigroup to $125.00 and a downgrade to a "sell" from Wall Street Zen.
• The company announced a quarterly dividend of $1.30 per share, representing a 4.7% dividend yield, while insiders own 0.70% of the stock and the company's overall dividend payout ratio is 132.32%.

Trexquant Investment LP grew its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 176.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,736 shares of the company's stock after buying an additional 92,320 shares during the quarter. Trexquant Investment LP owned approximately 0.24% of Chord Energy worth $16,315,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mariner LLC grew its position in shares of Chord Energy by 42.7% in the 4th quarter. Mariner LLC now owns 5,207 shares of the company's stock valued at $609,000 after acquiring an additional 1,559 shares during the period. Price T Rowe Associates Inc. MD raised its position in Chord Energy by 10.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,071 shares of the company's stock worth $4,335,000 after purchasing an additional 3,359 shares during the last quarter. MGO One Seven LLC grew its holdings in Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after acquiring an additional 111 shares during the period. Northern Trust Corp lifted its stake in Chord Energy by 3.3% in the fourth quarter. Northern Trust Corp now owns 474,203 shares of the company's stock valued at $55,444,000 after buying an additional 15,070 shares during the period. Finally, AQR Capital Management LLC increased its stake in Chord Energy by 216.2% in the fourth quarter. AQR Capital Management LLC now owns 147,946 shares of the company's stock valued at $17,066,000 after purchasing an additional 101,150 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CHRD. Piper Sandler increased their price target on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Bank of America cut their price objective on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Finally, Wells Fargo & Company upped their target price on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.92.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

Chord Energy Stock Down 3.4%

CHRD stock traded down $3.81 during midday trading on Wednesday, hitting $107.84. The company's stock had a trading volume of 169,124 shares, compared to its average volume of 830,545. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $142.86. The firm has a market capitalization of $6.17 billion, a P/E ratio of 27.50 and a beta of 0.97. The firm has a 50-day simple moving average of $105.27 and a 200-day simple moving average of $101.58.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $4.69 EPS. As a group, equities analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be paid a dividend of $1.30 per share. 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 4.8%. Chord Energy's dividend payout ratio (DPR) is currently 132.32%.

About Chord Energy

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.