Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 7,259 Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new position in Chord Energy Corporation, purchasing 7,259 shares valued at approximately $818,000.
• Chord Energy reported a quarterly earnings of $4.04 per share, exceeding analysts' expectations of $3.60, while revenue grew by 12% year-over-year to $1.22 billion.
• The company recently announced a quarterly dividend of $1.30, resulting in an annualized dividend yield of 4.9% and a payout ratio of 34.78%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,259 shares of the company's stock, valued at approximately $818,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its stake in Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Chord Energy in the 4th quarter valued at approximately $43,745,000. Squarepoint Ops LLC boosted 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 buying an additional 264,828 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Chord Energy in the fourth quarter valued at $29,984,000. Finally, Sourcerock Group LLC increased its holdings in Chord Energy by 214.9% during the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock worth $36,815,000 after buying an additional 214,870 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Mizuho decreased their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Bank of America reduced 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. Finally, Royal Bank Of Canada lowered their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.54.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $0.49 during trading on Monday, hitting $105.37. 833,121 shares of the company were exchanged, compared to its average volume of 603,726. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $157.85. The company has a market capitalization of $6.09 billion, a P/E ratio of 6.78 and a beta of 0.97. The business's 50 day moving average is $102.27 and its 200-day moving average is $103.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $5.10 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. Chord Energy's dividend payout ratio is presently 34.78%.

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.