Versor Investments LP Has $326,000 Stake in Chord Energy Corporation $CHRD

Key Points

• Versor Investments LP reduced its stake in Chord Energy Corporation by 54.1%, selling 3,410 shares and leaving them with 2,890 shares valued at approximately $326,000.
• Recent analyst ratings have mixed sentiments, with Piper Sandler raising their price target to $166 while Wall Street Zen downgraded it to a "sell"; the consensus rating for Chord Energy is currently "Moderate Buy" with a target price of $148.92.
• Chord Energy declared a quarterly dividend of $1.30 per share, reflecting a strong annualized yield of 5.1%, although the payout ratio stands at 132.32%.

Versor Investments LP trimmed its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 54.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,890 shares of the company's stock after selling 3,410 shares during the quarter. Versor Investments LP's holdings in Chord Energy were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 321.7% during the first 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. Caitong International Asset Management Co. Ltd boosted its holdings in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after purchasing an additional 529 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Chord Energy by 195.8% during the first 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 Chord Energy by 184.0% during the first 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. bought a new position in shares of Chord Energy in the first quarter valued at approximately $91,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Up 2.2%

NASDAQ:CHRD traded up $2.32 during trading hours on Wednesday, hitting $108.31. 690,623 shares of the stock were exchanged, compared to its average volume of 818,077. The company's 50 day moving average is $104.58 and its two-hundred day moving average is $101.69. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $150.11. 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 company has a market capitalization of $6.20 billion, a P/E ratio of 27.56 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. During the same period in the prior year, the company posted $4.69 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 4.8%. Chord Energy's dividend payout ratio is currently 132.32%.

Analysts Set New Price Targets

CHRD has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Bank of America cut 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 note on Friday, May 23rd. UBS Group lifted their target price on shares of Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Mizuho cut their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.92.

Insider Buying and Selling at Chord Energy

In other 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 transaction, the executive vice president owned 14,650 shares of the company's stock, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company 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.