Y Intercept Hong Kong Ltd Acquires 5,985 Shares of Chord Energy Corporation $CHRD

Y Intercept Hong Kong Ltd grew its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 52.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,293 shares of the company’s stock after purchasing an additional 5,985 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Chord Energy were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CHRD. Lynx Investment Advisory increased its holdings in Chord Energy by 3.6% in the second quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after purchasing an additional 99 shares in the last quarter. National Bank of Canada FI grew its position in shares of Chord Energy by 2.1% during the 1st 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 during the period. Voya Investment Management LLC increased its stake in shares of Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock valued at $854,000 after acquiring an additional 107 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Chord Energy by 4.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock valued at $329,000 after acquiring an additional 118 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Chord Energy by 9.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,386 shares of the company’s stock valued at $269,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $90.72 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The business has a 50-day simple moving average of $99.58 and a two-hundred day simple moving average of $99.64. The company has a market capitalization of $5.19 billion, a P/E ratio of 23.08 and a beta of 0.94. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $136.38.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.7%. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on CHRD. Wells Fargo & Company reduced their price target on shares of Chord Energy from $149.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Scotiabank assumed coverage on Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price for the company. Roth Capital initiated coverage on Chord Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $130.00 target price for the company. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.38.

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.