Hsbc Holdings PLC Has $21.04 Million Stock Position in Chord Energy Corporation $CHRD

Hsbc Holdings PLC reduced its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 11.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 145,998 shares of the company’s stock after selling 18,222 shares during the period. Hsbc Holdings PLC’s holdings in Chord Energy were worth $21,044,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHRD. V Square Quantitative Management LLC bought a new position in Chord Energy in the first quarter valued at about $29,000. Root Financial Partners LLC raised its stake in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares in the last quarter. WealthCollab LLC lifted its holdings in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after acquiring an additional 84 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Chord Energy in the 1st quarter valued at approximately $68,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Williams Trading set a $189.00 price objective on shares of Chord Energy in a research note on Monday, April 20th. Scotiabank raised their target price on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho raised their target price on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Chord Energy Stock Performance

Shares of CHRD stock opened at $134.19 on Wednesday. The business’s 50-day moving average price is $129.74 and its 200-day moving average price is $121.60. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of -118.75 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 (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business posted $4.04 earnings per share. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. Equities research analysts forecast that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s payout ratio is presently -460.18%.

Insider Buying and Selling

In other news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total transaction of $207,855.00. Following the transaction, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction on Friday, May 15th. The stock was 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 directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 over the last three months. Insiders own 0.79% of the company’s stock.

About Chord Energy

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.