PNC Financial Services Group Inc. Acquires 118 Shares of Chord Energy Corporation (NASDAQ:CHRD)

PNC Financial Services Group Inc. increased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,921 shares of the company’s stock after purchasing an additional 118 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chord Energy were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Chord Energy during the fourth quarter valued at $25,000. Hexagon Capital Partners LLC boosted its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares during the last quarter. Fifth Third Bancorp boosted its position in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock valued at $79,000 after acquiring an additional 462 shares during the last quarter. GAMMA Investing LLC boosted its position in Chord Energy by 184.0% during the first quarter. GAMMA Investing LLC now owns 727 shares of the company’s stock valued at $82,000 after acquiring an additional 471 shares during the last quarter. Finally, UMB Bank n.a. bought a new stake in Chord Energy during the first quarter valued at $91,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $102.11 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $155.88. The stock has a market capitalization of $5.85 billion, a PE ratio of 25.98 and a beta of 0.97. The company’s 50-day moving average is $104.35 and its 200-day moving average is $102.10.

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 return on equity of 9.02% and a net margin of 5.02%. 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 company earned $4.69 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, August 21st. Chord Energy’s dividend payout ratio is currently 132.32%.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the sale, the executive vice president owned 17,669 shares in the company, valued at $1,795,877.16. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHRD shares. Wall Street Zen cut shares of Chord Energy from a “hold” rating to a “sell” rating in a research 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. Piper Sandler reaffirmed an “overweight” rating and set a $166.00 price target (up previously from $164.00) on shares of Chord Energy in a research report on Thursday. Bank of America cut their price target on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $120.00 price target (up previously from $113.00) on shares of Chord Energy in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.77.

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.