DekaBank Deutsche Girozentrale Has $590,000 Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

DekaBank Deutsche Girozentrale grew its holdings in Chord Energy Co. (NASDAQ:CHRD) by 757.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,557 shares of the company’s stock after acquiring an additional 3,142 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Chord Energy were worth $590,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in Chord Energy in the 1st quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the second quarter valued at approximately $40,000. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after buying an additional 191 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Chord Energy during the 2nd quarter worth $60,000. Finally, Quadrant Capital Group LLC grew its stake in Chord Energy by 94.3% in the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 0.3 %

CHRD opened at $136.73 on Friday. Chord Energy Co. has a fifty-two week low of $129.75 and a fifty-two week high of $190.23. The company has a market capitalization of $5.70 billion, a P/E ratio of 6.42, a P/E/G ratio of 4.48 and a beta of 0.99. 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 firm’s fifty day moving average price is $152.80 and its two-hundred day moving average price is $167.15.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the firm posted $3.65 earnings per share. Chord Energy’s revenue was up 29.8% on a year-over-year basis. On average, analysts anticipate that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.66%. Chord Energy’s payout ratio is presently 23.46%.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHRD. Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Citigroup lowered their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial cut their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Piper Sandler lowered their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Company 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.