Bank of New York Mellon Corp Sells 4,969 Shares of Chord Energy Corporation $CHRD

Bank of New York Mellon Corp lowered its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 615,816 shares of the company’s stock after selling 4,969 shares during the period. Bank of New York Mellon Corp’s holdings in Chord Energy were worth $87,557,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the first quarter worth approximately $29,000. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after buying an additional 150 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after buying an additional 341 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $134.19 on Wednesday. The business’s fifty day simple moving average is $129.74 and its 200 day simple moving average is $121.60. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The firm has a market capitalization of $7.55 billion, a P/E ratio of -118.75 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company earned $4.04 EPS. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is -460.18%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Truist Financial cut their price objective on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Wells Fargo & Company upped their target price on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Roth Capital reiterated a “buy” rating and issued a $145.00 target price on shares of Chord Energy in a report on Wednesday, July 15th. Finally, Mizuho raised their price target on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.38.

Insider Activity

In related news, 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 transaction of $186,257.72. Following the completion of the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the sale, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is owned by company insiders.

Chord Energy Company Profile

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.