United Services Automobile Association Acquires Shares of 4,085 Chord Energy Corporation $CHRD

Key Points

• The United Services Automobile Association acquired a new position in Chord Energy Corporation, purchasing 4,085 shares valued at approximately $456,000.
• Multiple institutional investors have increased their stakes in Chord Energy, with 97.76% of shares owned by institutional investors and hedge funds.
• Chord Energy announced a quarterly dividend of $1.30 per share, with a dividend yield of 4.9% despite a payout ratio of 132.32%.

United Services Automobile Association purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,085 shares of the company's stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. National Bank of Canada FI boosted its stake in shares of Chord Energy by 2.1% in the 1st quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock valued at $592,000 after purchasing an additional 106 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Chord Energy by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock valued at $329,000 after buying an additional 118 shares during the period. ProShare Advisors LLC boosted its stake in Chord Energy by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after acquiring an additional 163 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Chord Energy by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock worth $2,159,000 after acquiring an additional 190 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its position in shares of Chord Energy by 3.9% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 5,347 shares of the company's stock valued at $603,000 after acquiring an additional 200 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Up 4.0%

Shares of Chord Energy stock traded up $4.05 on Tuesday, reaching $106.36. 369,574 shares of the company were exchanged, compared to its average volume of 839,255. Chord Energy Corporation has a one year low of $79.83 and a one year high of $140.15. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.02 and a beta of 0.97. 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 has a 50-day moving average of $105.91 and a 200 day moving average of $101.00.

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). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the company earned $4.69 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio is 132.32%.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and issued a $169.00 price target (up from $166.00) on shares of Chord Energy in a research report on Tuesday. Bank of America reduced their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. UBS Group upped their price target on Chord Energy from $122.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Mizuho cut their target price on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.25.

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.