Y Intercept Hong Kong Ltd Increases Position in Chord Energy Corporation $CHRD

Y Intercept Hong Kong Ltd increased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 52.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,293 shares of the company’s stock after buying an additional 5,985 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Chord Energy were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after buying an additional 88,490 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Chord Energy by 364.2% during the 1st quarter. Hsbc Holdings PLC now owns 35,795 shares of the company’s stock valued at $4,055,000 after acquiring an additional 28,084 shares during the period. Aurora Investment Counsel purchased a new stake in shares of Chord Energy during the 1st quarter worth approximately $1,940,000. New York State Teachers Retirement System raised its holdings in shares of Chord Energy by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company’s stock worth $3,290,000 after purchasing an additional 2,263 shares during the period. Finally, ARGA Investment Management LP purchased a new position in Chord Energy in the first quarter valued at approximately $1,366,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 0.5%

Shares of NASDAQ CHRD opened at $90.72 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.19 billion, a P/E ratio of 23.08 and a beta of 0.94. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $136.38. The business has a 50-day simple moving average of $99.58 and a two-hundred day simple moving average of $99.64.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the company earned $4.69 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share 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 paid a $1.30 dividend. The ex-dividend date was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.7%. Chord Energy’s dividend payout ratio is currently 132.32%.

Insider Buying and Selling

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the business’s stock in a transaction 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 in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on CHRD shares. Piper Sandler decreased their target price on Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Roth Capital started coverage on Chord Energy in a research note on Monday, October 13th. They set a “buy” rating and a $130.00 price target for the company. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America upped their price objective on shares of Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Scotiabank assumed coverage on shares of Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price for the company. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.38.

Chord Energy 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.