Truist Financial Corp Raises Holdings in Chord Energy Corporation $CHRD

Truist Financial Corp grew its position in Chord Energy Corporation (NASDAQ:CHRD) by 18.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,038 shares of the company’s stock after purchasing an additional 1,716 shares during the quarter. Truist Financial Corp’s holdings in Chord Energy were worth $1,069,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CHRD. Hexagon Capital Partners LLC lifted its stake in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 increased its holdings 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. Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 462 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 471 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank assumed coverage on Chord Energy in a report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price objective on the stock. Citigroup increased their price objective on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Mizuho cut their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.42.

Chord Energy Stock Down 5.6%

Shares of CHRD opened at $90.59 on Monday. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $136.38. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 23.05 and a beta of 0.94. The stock’s 50-day moving average price is $103.08 and its 200-day moving average price is $100.11.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.69 EPS. On average, sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

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

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.