SG Americas Securities LLC Makes New Investment in Chord Energy Co. (NASDAQ:CHRD)

Posted by on Apr 27th, 2023

SG Americas Securities LLC bought a new position in Chord Energy Co. (NASDAQ:CHRD – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,945 shares of the company’s stock, valued at approximately $1,361,000.

A number of other large investors have also added to or reduced their stakes in CHRD. Ninepoint Partners LP bought a new position in Chord Energy in the fourth quarter worth about $101,923,000. Copeland Capital Management LLC bought a new position in Chord Energy in the fourth quarter worth about $67,071,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Chord Energy during the fourth quarter valued at about $64,642,000. Mackay Shields LLC acquired a new position in shares of Chord Energy during the fourth quarter valued at about $18,888,000. Finally, Bernzott Capital Advisors acquired a new position in shares of Chord Energy during the fourth quarter valued at about $14,456,000. 93.47% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $137.18 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.09 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 52 week low of $93.35 and a 52 week high of $181.34. The business’s 50 day moving average price is $136.18 and its 200 day moving average price is $140.97. The firm has a market cap of $5.71 billion, a P/E ratio of 2.31, a P/E/G ratio of 0.32 and a beta of 1.36.

Chord Energy (NASDAQ:CHRD – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $5.28 EPS for the quarter, missing the consensus estimate of $5.89 by ($0.61). Chord Energy had a return on equity of 29.44% and a net margin of 50.90%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $875.33 million. On average, sell-side analysts expect that Chord Energy Co. will post 22.24 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th were given a $4.80 dividend. This represents a yield of 3.7%. The ex-dividend date of this dividend was Monday, March 6th. This is a positive change from Chord Energy’s previous None dividend of $3.67. Chord Energy’s dividend payout ratio is currently 8.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHRD. Piper Sandler upped their price objective on shares of Chord Energy from $210.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Mizuho cut their price objective on shares of Chord Energy from $196.00 to $179.00 in a report on Friday, March 10th. Royal Bank of Canada restated an “outperform” rating and set a $190.00 price objective on shares of Chord Energy in a report on Thursday, March 30th. Bank of America started coverage on Chord Energy in a research report on Wednesday, January 25th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, Truist Financial upped their target price on Chord Energy from $187.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.38.

Insiders Place Their Bets

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $142.03, for a total value of $426,090.00. Following the sale, the director now owns 241,098 shares in the company, valued at approximately $34,243,148.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Lynn A. Peterson sold 1,048 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $140.06, for a total transaction of $146,782.88. Following the completion of the transaction, the director now directly owns 246,050 shares of the company’s stock, valued at approximately $34,461,763. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $142.03, for a total value of $426,090.00. Following the transaction, the director now directly owns 241,098 shares of the company’s stock, valued at $34,243,148.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,048 shares of company stock worth $1,007,693. Corporate insiders own 0.52% of the company’s stock.

About Chord Energy

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.

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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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