MassMutual Private Wealth & Trust FSB Increases Stock Position in Chord Energy Corporation $CHRD

MassMutual Private Wealth & Trust FSB increased its position in Chord Energy Corporation (NASDAQ:CHRD) by 254.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 687 shares of the company’s stock after acquiring an additional 493 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Chord Energy were worth $67,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of Chord Energy by 6.0% in the 4th quarter. ProShare Advisors LLC now owns 2,861 shares of the company’s stock worth $335,000 after buying an additional 163 shares during the last quarter. Tidal Investments LLC purchased a new position in Chord Energy in the fourth quarter worth about $312,000. Two Sigma Advisers LP bought a new stake in shares of Chord Energy during the 4th quarter valued at about $803,000. GTS Securities LLC purchased a new stake in shares of Chord Energy during the 4th quarter valued at about $1,183,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Chord Energy during the 4th quarter valued at about $2,197,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Chord Energy Trading Down 3.8%

Shares of CHRD stock opened at $100.37 on Friday. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $140.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $105.59 and its two-hundred day simple moving average is $101.03. The company has a market cap of $5.75 billion, a PE ratio of 25.54 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $984.07 million. During the same quarter last year, the company earned $4.69 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current 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 given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. Chord Energy’s dividend payout ratio is 132.32%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Mizuho dropped their price target on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Piper Sandler boosted their price objective on shares of Chord Energy from $166.00 to $169.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Finally, Scotiabank began coverage on Chord Energy in a research report on Friday. They set a “sector perform” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.15.

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.