Voya Investment Management LLC Boosts Position in Chord Energy Corporation $CHRD

Voya Investment Management LLC grew its stake in Chord Energy Corporation (NASDAQ:CHRD) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,579 shares of the company’s stock after acquiring an additional 107 shares during the quarter. Voya Investment Management LLC’s holdings in Chord Energy were worth $854,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new stake in Chord Energy during the first quarter worth about $310,000. IFM Investors Pty Ltd bought a new position in Chord Energy during the 1st quarter worth approximately $1,206,000. Focus Partners Wealth bought a new position in Chord Energy during the 1st quarter worth approximately $289,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after buying an additional 18,137 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Chord Energy by 17.0% during the 1st quarter. Empowered Funds LLC now owns 33,949 shares of the company’s stock worth $3,827,000 after buying an additional 4,931 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CHRD shares. UBS Group increased their price target on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Bank of America increased their price target on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Citigroup raised their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Finally, Mizuho cut their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.15.

Chord Energy Price Performance

Shares of CHRD stock opened at $104.32 on Thursday. The stock’s fifty day simple moving average is $105.46 and its 200 day simple moving average is $101.02. 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 firm has a market cap of $5.97 billion, a price-to-earnings ratio of 26.54 and a beta of 0.97. Chord Energy Corporation has a one year low of $79.83 and a one year high of $139.26.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.Chord Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.69 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 company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders 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 dividend yield of 5.0%. Chord Energy’s payout ratio is presently 132.32%.

Insider Buying and Selling at Chord Energy

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

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.