Hsbc Holdings PLC Raises Holdings in Chord Energy Co. (NASDAQ:CHRD)

Hsbc Holdings PLC grew its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 405.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,812 shares of the company’s stock after purchasing an additional 6,267 shares during the period. Hsbc Holdings PLC’s holdings in Chord Energy were worth $1,311,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CHRD. Victory Capital Management Inc. grew its position in shares of Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares in the last quarter. Boston Partners grew its position in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares in the last quarter. SIR Capital Management L.P. purchased a new position in shares of Chord Energy during the second quarter valued at about $32,895,000. Finally, Renaissance Technologies LLC grew its position in shares of Chord Energy by 168.5% during the second quarter. Renaissance Technologies LLC now owns 280,116 shares of the company’s stock valued at $46,970,000 after purchasing an additional 175,798 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 2.7 %

Shares of NASDAQ CHRD opened at $130.80 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $5.45 billion, a P/E ratio of 6.14, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy Co. has a 1 year low of $126.96 and a 1 year high of $190.23. The firm has a 50-day simple moving average of $148.46 and a two-hundred day simple moving average of $166.11.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same period in the previous year, the business earned $3.65 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts anticipate that Chord Energy Co. will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Insider Activity

In related news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CHRD shares. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Citigroup lowered their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. BMO Capital Markets started coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $202.10.

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.