DekaBank Deutsche Girozentrale Increases Stake in Chord Energy Corporation $CHRD

DekaBank Deutsche Girozentrale boosted its stake in Chord Energy Corporation (NASDAQ:CHRD) by 85.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 771 shares of the company’s stock after purchasing an additional 356 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Chord Energy were worth $75,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its stake in Chord Energy by 9.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,616 shares of the company’s stock worth $253,000 after purchasing an additional 230 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Chord Energy during the second quarter valued at approximately $28,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Chord Energy by 130.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,833 shares of the company’s stock valued at $662,000 after buying an additional 3,874 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Chord Energy during the second quarter valued at approximately $696,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Chord Energy by 4.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock valued at $83,169,000 after buying an additional 32,802 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Chord Energy from $149.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Piper Sandler reduced their target price on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. UBS Group boosted their target price on Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Chord Energy in a research note on Monday, October 6th. Finally, Citigroup lifted their price target on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $138.38.

Chord Energy Trading Up 0.8%

Shares of NASDAQ:CHRD opened at $93.22 on Tuesday. The company has a market cap of $5.34 billion, a P/E ratio of 23.72 and a beta of 0.94. 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 $136.38. The stock’s fifty day moving average price is $100.58 and its 200-day moving average price is $99.57.

Chord Energy (NASDAQ:CHRD) last announced 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 the consensus estimate 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 for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.69 earnings per share. Sell-side analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio is presently 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 14,650 shares of the company’s stock, 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 through the SEC website. 0.70% of the stock is currently owned by insiders.

About Chord Energy

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.