Y Intercept Hong Kong Ltd Grows Position in Chord Energy Corporation $CHRD

Y Intercept Hong Kong Ltd lifted its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 320.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,673 shares of the company’s stock after purchasing an additional 55,380 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.13% of Chord Energy worth $7,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Chord Energy by 7.3% during the 2nd quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock valued at $137,000 after buying an additional 96 shares in the last quarter. Lynx Investment Advisory lifted its position in Chord Energy by 3.6% during the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock valued at $276,000 after acquiring an additional 99 shares during the period. WealthCollab LLC boosted its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Chord Energy by 91.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in Chord Energy by 1.8% in the third quarter. Merit Financial Group LLC now owns 11,997 shares of the company’s stock worth $1,192,000 after purchasing an additional 216 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Samantha Holroyd acquired 1,250 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average price of $85.50 per share, with a total value of $106,875.00. Following the completion of the purchase, the director directly owned 17,706 shares of the company’s stock, valued at $1,513,863. This represents a 7.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a report on Friday, January 9th. Zacks Research cut shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. William Blair initiated coverage on shares of Chord Energy in a research report on Friday, November 21st. They set an “outperform” rating on the stock. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Piper Sandler dropped their target price on shares of Chord Energy from $167.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Chord Energy Stock Performance

Shares of CHRD stock opened at $95.53 on Friday. The firm has a market capitalization of $5.43 billion, a PE ratio of 36.74 and a beta of 0.92. The company has a 50 day moving average price of $93.14 and a 200-day moving average price of $97.96. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $121.80. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.40 EPS. As a group, equities research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Wednesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is currently 200.00%.

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.