Prime Capital Investment Advisors LLC Invests $212,000 in Chord Energy Corporation $CHRD

Prime Capital Investment Advisors LLC purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,188 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CHRD. Park Avenue Securities LLC lifted its holdings in Chord Energy by 28.5% in the first quarter. Park Avenue Securities LLC now owns 2,784 shares of the company’s stock valued at $314,000 after acquiring an additional 617 shares during the period. GAMMA Investing LLC lifted its holdings in Chord Energy by 184.0% in the first quarter. GAMMA Investing LLC now owns 727 shares of the company’s stock valued at $82,000 after acquiring an additional 471 shares during the period. SG Americas Securities LLC lifted its holdings in Chord Energy by 309.8% in the first quarter. SG Americas Securities LLC now owns 11,092 shares of the company’s stock valued at $1,250,000 after acquiring an additional 8,385 shares during the period. Fifth Third Bancorp lifted its holdings in Chord Energy by 195.8% in the first quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock valued at $79,000 after acquiring an additional 462 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in Chord Energy by 10,914.4% in the first quarter. Rakuten Securities Inc. now owns 33,594 shares of the company’s stock valued at $3,787,000 after acquiring an additional 33,289 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the transaction, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CHRD shares. UBS Group raised their price target on Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Piper Sandler dropped their price objective on Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Scotiabank assumed coverage on Chord Energy in a research report on Friday, September 19th. They set a “sector perform” rating and a $120.00 price objective for the company. Wells Fargo & Company lifted their price objective on Chord Energy from $146.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Finally, Citigroup lifted their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $143.42.

Chord Energy Stock Down 5.6%

Shares of NASDAQ:CHRD opened at $90.59 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $136.38. The company has a 50 day moving average of $103.08 and a two-hundred day moving average of $100.11. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 23.05 and a beta of 0.94.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same period in the previous year, the company earned $4.69 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Thursday, August 21st. Chord Energy’s payout ratio is 132.32%.

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.