Chord Energy Corporation $CHRD Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC reduced its holdings in Chord Energy Corporation by 42.8%, selling 8,041 shares and bringing its total ownership to 10,764 shares valued at approximately $1.21 million.
• Chord Energy Corporation announced a quarterly dividend of $1.30 per share, representing an annualized yield of 4.9%, with a payout ratio currently at 132.32%.
• Despite missing earnings expectations with $1.79 EPS reported, Chord Energy's revenue increased 5.3% year-over-year, totaling $1.18 billion for the quarter.

Vident Advisory LLC lessened its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,764 shares of the company's stock after selling 8,041 shares during the quarter. Vident Advisory LLC's holdings in Chord Energy were worth $1,213,000 at the end of the most recent reporting period.

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

Chord Energy Stock Performance

NASDAQ:CHRD traded down $0.73 during midday trading on Monday, reaching $102.69. The stock had a trading volume of 565,975 shares, compared to its average volume of 839,708. The stock has a market cap of $5.88 billion, a P/E ratio of 26.13 and a beta of 0.97. 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 firm has a fifty day simple moving average of $105.71 and a two-hundred day simple moving average of $101.34. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $140.15.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be given a $1.30 dividend. The ex-dividend date is Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.1%. Chord Energy's payout ratio is presently 132.32%.

Analyst Ratings Changes

CHRD has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Bank of America lowered their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Mizuho cut 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 report on Tuesday, May 13th. Finally, Citigroup lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $148.00.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction dated 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 approximately $1,544,549.50. This represents 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 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.