Ethic Inc. Invests $236,000 in Chord Energy Corporation $CHRD

Ethic Inc. purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,389 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds also recently modified their holdings of the business. Lynx Investment Advisory raised its position in shares of Chord Energy by 3.6% during the second quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after purchasing an additional 99 shares during the period. National Bank of Canada FI grew its holdings in shares of Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company’s stock worth $592,000 after buying an additional 106 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Chord Energy by 1.4% during the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after buying an additional 107 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Chord Energy by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock worth $329,000 after buying an additional 118 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Chord Energy by 9.6% during the first quarter. Stratos Wealth Partners LTD. now owns 2,386 shares of the company’s stock worth $269,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHRD shares. Citigroup increased their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Mizuho decreased their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wells Fargo & Company decreased their price objective on Chord Energy from $149.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Finally, Morgan Stanley decreased their price objective on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.38.

Chord Energy Stock Down 0.8%

CHRD stock opened at $90.23 on Friday. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $136.38. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 22.96 and a beta of 0.94. The business has a 50 day moving average price of $99.88 and a two-hundred day moving average price of $99.54. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same period in the previous year, the business earned $4.69 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’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 value of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares of the company’s stock, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.