Nisa Investment Advisors LLC Increases Stock Position in Chord Energy Corporation $CHRD

Nisa Investment Advisors LLC increased its position in Chord Energy Corporation (NASDAQ:CHRD) by 190.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,852 shares of the company’s stock after buying an additional 5,808 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chord Energy were worth $857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in shares of Chord Energy in the second quarter valued at $28,000. Hexagon Capital Partners LLC boosted its stake in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after purchasing an additional 341 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after purchasing an additional 529 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Chord Energy by 254.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock valued at $67,000 after purchasing an additional 493 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock valued at $67,000 after purchasing an additional 327 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $90.72 on Friday. The firm has a market cap of $5.19 billion, a PE ratio of 23.08 and a beta of 0.94. The firm’s 50-day simple moving average is $99.58 and its 200-day simple moving average is $99.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $136.38.

Chord Energy (NASDAQ:CHRD) last posted its quarterly 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 return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the previous year, the business posted $4.69 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were given 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 dividend payout ratio (DPR) is presently 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the transaction, the executive vice president directly owned 14,650 shares in the company, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Roth Capital began coverage on shares of Chord Energy in a research note on Monday, October 13th. They set a “buy” rating and a $130.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Chord Energy from $149.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Finally, Scotiabank initiated coverage on shares of Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

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.