Hsbc Holdings PLC grew its stake in Chord Energy Corporation (NASDAQ:CHRD – Free Report) by 169.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,220 shares of the company’s stock after acquiring an additional 103,202 shares during the quarter. Hsbc Holdings PLC’s holdings in Chord Energy were worth $15,138,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. WealthCollab LLC grew its holdings in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after purchasing an additional 454 shares in the last quarter. Triumph Capital Management acquired a new position in shares of Chord Energy in the 3rd quarter valued at $56,000. Finally, Sankala Group LLC acquired a new stake in Chord Energy during the 4th quarter worth $57,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.
Chord Energy Price Performance
CHRD stock opened at $116.84 on Wednesday. The stock has a 50-day moving average price of $133.24 and a two-hundred day moving average price of $119.28. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The stock has a market cap of $6.58 billion, a PE ratio of -103.40 and a beta of 0.49. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.
Chord Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. Chord Energy’s dividend payout ratio is -460.18%.
Insider Buying and Selling
In other news, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,276 shares of company stock valued at $1,285,968. Insiders own 0.79% of the company’s stock.
Analysts Set New Price Targets
CHRD has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Citigroup raised their price target on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Williams Trading set a $189.00 price objective on Chord Energy in a report on Monday, April 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th. Finally, Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.92.
Check Out Our Latest Analysis on Chord Energy
Chord Energy Profile
Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.
The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.
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