Bank of New York Mellon Corp purchased a new position in Chord Energy Corporation (NASDAQ:CHRD – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 581,710 shares of the company’s stock, valued at approximately $66,489,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Chord Energy in the first quarter worth $29,000. Root Financial Partners LLC lifted its stake in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the period. Versant Capital Management Inc lifted its position in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the period. Finally, WealthCollab LLC grew its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the period. Institutional investors own 97.76% of the company’s stock.
Insider Transactions at Chord Energy
In other Chord Energy news, Director Samantha Mckinney sold 2,200 shares of Chord Energy stock in a transaction on Monday, August 10th. The shares were sold at an average price of $136.32, for a total value of $299,904.00. Following the sale, the director directly owned 17,030 shares in the company, valued at approximately $2,321,529.60. The trade was a 11.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Douglas E. Brooks sold 8,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 14,219 shares of company stock valued at $1,927,684. 0.79% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on CHRD
Chord Energy Stock Performance
NASDAQ CHRD opened at $140.14 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $153.00. The business has a 50-day moving average price of $129.86 and a 200-day moving average price of $129.66. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 9.39 and a beta of 0.48.
Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm posted $1.79 earnings per share. The firm’s revenue for the quarter was up 128.6% on a year-over-year basis. As a group, equities research analysts predict that Chord Energy Corporation will post 18.61 EPS for the current fiscal year.
Chord Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.7%. Chord Energy’s dividend payout ratio (DPR) is presently 34.85%.
Chord Energy Company 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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