Sequoia Financial Advisors LLC Purchases Shares of 7,185 Chord Energy Corporation $CHRD

Sequoia Financial Advisors LLC purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,185 shares of the company’s stock, valued at approximately $696,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after acquiring an additional 529 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Chord Energy by 254.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after purchasing an additional 493 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after purchasing an additional 327 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Chord Energy by 195.8% in the first quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock worth $79,000 after purchasing an additional 462 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

Shares of CHRD stock opened at $89.74 on Friday. The stock has a fifty day moving average of $101.79 and a 200 day moving average of $99.43. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $136.38. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 22.83 and a beta of 0.94. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $984.07 million. During the same period in the previous year, the business earned $4.69 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHRD. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 target price on shares of Chord Energy in a report on Monday, October 6th. Bank of America raised their target price on shares of Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Roth Capital began coverage on shares of Chord Energy in a report on Monday, October 13th. They issued a “buy” rating and a $130.00 target price on the stock. Mizuho cut their target price 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. Finally, Citigroup raised their target price on shares of Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.38.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’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 completion of the transaction, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

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.