First Trust Advisors LP Grows Position in Chord Energy Corporation $CHRD

First Trust Advisors LP raised its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 399,628 shares of the company’s stock after purchasing an additional 11,785 shares during the period. First Trust Advisors LP’s holdings in Chord Energy were worth $38,704,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. grew its stake in shares of Chord Energy by 7.3% during the 2nd quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock valued at $137,000 after acquiring an additional 96 shares during the period. Lynx Investment Advisory raised its stake in Chord Energy by 3.6% during the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after acquiring an additional 99 shares during the period. National Bank of Canada FI lifted its holdings in Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company’s stock valued at $592,000 after purchasing an additional 106 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Chord Energy by 1.4% in the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after purchasing an additional 107 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Chord Energy by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock worth $329,000 after purchasing an additional 118 shares during the period. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CHRD. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Roth Capital initiated coverage on Chord Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $130.00 price objective on the stock. William Blair initiated coverage on Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating for the company. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Wells Fargo & Company upped their price target on Chord Energy from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $137.69.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd bought 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average price of $85.50 per share, with a total value of $106,875.00. Following the transaction, the director owned 17,706 shares in the company, valued at $1,513,863. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $98.50 on Wednesday. The firm has a fifty day simple moving average of $92.49 and a two-hundred day simple moving average of $99.37. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $129.32. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $5.60 billion, a P/E ratio of 37.88 and a beta of 0.92.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.40 EPS. On average, analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is presently 200.00%.

Chord Energy Company 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.