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

A number of other large investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in Chord Energy during the 1st quarter worth approximately $36,837,000. Squarepoint Ops LLC raised its holdings in shares of Chord Energy by 365.5% in the 4th 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. Sourcerock Group LLC boosted its position in shares of Chord Energy by 214.9% during the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after acquiring an additional 214,870 shares during the last quarter. Thomist Capital Management LP purchased a new position in shares of Chord Energy during the fourth quarter worth about $18,446,000. Finally, Woodline Partners LP increased its position in shares of Chord Energy by 16.4% in the fourth quarter. Woodline Partners LP now owns 748,966 shares of the company's stock worth $87,569,000 after purchasing an additional 105,448 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Down 0.7%

CHRD stock traded down $0.71 during trading on Friday, hitting $104.16. 927,389 shares of the company traded hands, compared to its average volume of 777,978. The company has a 50-day moving average of $105.93 and a 200-day moving average of $101.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $140.15. The firm has a market capitalization of $5.96 billion, a PE ratio of 26.50 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 for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.69 EPS. Analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.0%. Chord Energy's dividend payout ratio is presently 132.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHRD shares. Citigroup boosted their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. UBS Group increased their target price on Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company raised their price target on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Piper Sandler increased their price objective on Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

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.