Fifth Third Bancorp Purchases 26,574 Shares of Chord Energy Corporation $CHRD

Fifth Third Bancorp increased its position in Chord Energy Corporation (NASDAQ:CHRD) by 5,606.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,048 shares of the company’s stock after purchasing an additional 26,574 shares during the quarter. Fifth Third Bancorp’s holdings in Chord Energy were worth $3,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CHRD. Geode Capital Management LLC raised its position in shares of Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after purchasing an additional 277,588 shares during the last quarter. Wellington Management Group LLP increased its holdings in Chord Energy by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock worth $167,743,000 after buying an additional 104,373 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Chord Energy by 18.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after purchasing an additional 193,469 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Chord Energy by 85.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock worth $112,927,000 after purchasing an additional 561,899 shares during the period. Finally, Sourcerock Group LLC grew its holdings in shares of Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after acquiring an additional 20,916 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the sale, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,276 shares of company stock valued at $1,285,968 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on CHRD. Wells Fargo & Company upped their target price on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. UBS Group lowered their target price on shares of Chord Energy from $179.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Wall Street Zen cut Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Mizuho increased their price target on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.38.

Chord Energy Stock Up 3.2%

Shares of NASDAQ CHRD opened at $128.10 on Friday. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -113.36 and a beta of 0.49. The stock has a 50 day moving average price of $130.12 and a 200 day moving average price of $120.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.04 EPS. Sell-side analysts expect that Chord Energy Corporation will post 18.32 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is presently -460.18%.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.