First Trust Advisors LP Grows Holdings in Chord Energy Corporation $CHRD

First Trust Advisors LP boosted its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,628 shares of the company’s stock after acquiring an additional 11,785 shares during the period. First Trust Advisors LP owned 0.70% of Chord Energy worth $38,704,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Guggenheim Capital LLC increased its stake in shares of Chord Energy by 15.3% during the second quarter. Guggenheim Capital LLC now owns 36,534 shares of the company’s stock valued at $3,538,000 after purchasing an additional 4,836 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Chord Energy by 364.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after purchasing an additional 1,220 shares in the last quarter. M&T Bank Corp grew its stake in shares of Chord Energy by 48.8% in the 2nd quarter. M&T Bank Corp now owns 4,056 shares of the company’s stock worth $393,000 after buying an additional 1,330 shares during the last quarter. Virtus Investment Advisers LLC increased its position in Chord Energy by 21.8% during the 2nd quarter. Virtus Investment Advisers LLC now owns 1,648 shares of the company’s stock valued at $160,000 after buying an additional 295 shares in the last quarter. Finally, Level Four Advisory Services LLC raised its stake in Chord Energy by 9.6% during the second quarter. Level Four Advisory Services LLC now owns 8,948 shares of the company’s stock valued at $867,000 after buying an additional 782 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD opened at $98.50 on Wednesday. The firm has a market capitalization of $5.60 billion, a P/E ratio of 37.88 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. Chord Energy Corporation has a one year low of $79.83 and a one year high of $129.32. The business has a fifty day moving average of $92.49 and a 200 day moving average of $99.37.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.Chord Energy’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.40 earnings per share. As a group, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio is 200.00%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $85.50 per share, with a total value of $106,875.00. Following the completion of the acquisition, the director owned 17,706 shares in the company, valued at $1,513,863. This represents a 7.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHRD. William Blair started coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Chord Energy in a report on Monday, October 6th. Morgan Stanley set a $123.00 price target on shares of Chord Energy in a report on Thursday, November 20th. UBS Group reduced their price target on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Finally, Bank of America upped their price objective on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.69.

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.