Park Avenue Securities LLC Grows Stake in Chord Energy Corporation $CHRD

Park Avenue Securities LLC raised its stake in Chord Energy Corporation (NASDAQ:CHRD) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,178 shares of the company’s stock after acquiring an additional 394 shares during the quarter. Park Avenue Securities LLC’s holdings in Chord Energy were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $3,585,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Chord Energy in the 2nd quarter worth approximately $1,755,000. Pallas Capital Advisors LLC bought a new position in shares of Chord Energy in the 2nd quarter worth $744,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Chord Energy by 254.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after buying an additional 493 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Chord Energy by 4.3% in the 2nd quarter. NBC Securities Inc. now owns 11,564 shares of the company’s stock worth $1,119,000 after buying an additional 475 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Trading Down 1.8%

Shares of NASDAQ CHRD opened at $99.37 on Wednesday. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $139.26. The stock has a market cap of $5.69 billion, a P/E ratio of 25.28 and a beta of 0.97. The firm has a 50-day moving average of $105.12 and a 200 day moving average of $100.93. 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 (NASDAQ:CHRD) last issued its quarterly earnings results 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). The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $4.69 earnings per share. As a group, sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.2%. Chord Energy’s payout ratio is 132.32%.

Insider Buying and Selling at Chord Energy

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHRD shares. Piper Sandler increased their price target on shares of Chord Energy from $166.00 to $169.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. UBS Group raised their price target on shares of Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Mizuho cut their price target on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Citigroup lifted their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Bank of America lifted their target price on shares of Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $147.15.

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.