Allspring Global Investments Holdings LLC Purchases 32,802 Shares of Chord Energy Corporation $CHRD

Allspring Global Investments Holdings LLC grew its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 824,760 shares of the company’s stock after acquiring an additional 32,802 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.43% of Chord Energy worth $83,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Avenue Securities LLC lifted its position in shares of Chord Energy by 28.5% in the first quarter. Park Avenue Securities LLC now owns 2,784 shares of the company’s stock worth $314,000 after purchasing an additional 617 shares in the last quarter. GAMMA Investing LLC lifted its position in Chord Energy by 184.0% during the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company’s stock worth $82,000 after buying an additional 471 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Chord Energy by 309.8% during the 1st quarter. SG Americas Securities LLC now owns 11,092 shares of the company’s stock worth $1,250,000 after buying an additional 8,385 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock valued at $79,000 after acquiring an additional 462 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Chord Energy by 10,914.4% in the first quarter. Rakuten Securities Inc. now owns 33,594 shares of the company’s stock valued at $3,787,000 after acquiring an additional 33,289 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CHRD. Scotiabank began coverage on Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price target for the company. Wells Fargo & Company increased their price objective on Chord Energy from $146.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Mizuho dropped their price target on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, UBS Group lifted their price objective on shares of Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.38.

Chord Energy Trading Up 2.3%

Shares of Chord Energy stock opened at $92.63 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The business has a fifty day simple moving average of $102.83 and a two-hundred day simple moving average of $99.98. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $136.38. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 23.57 and a beta of 0.94.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data 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). The company had revenue of $1.18 billion during 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%. Chord Energy’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. Research analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business 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 was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.6%. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company’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 transaction, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by corporate 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.