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

Hsbc Holdings PLC lessened its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,998 shares of the company’s stock after selling 18,222 shares during the period. Hsbc Holdings PLC owned approximately 0.26% of Chord Energy worth $21,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after purchasing an additional 84 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Chord Energy by 16.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after buying an additional 113 shares in the last quarter. WealthCollab LLC grew its holdings in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Root Financial Partners LLC increased its position in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the period. Finally, Madison Asset Management LLC increased its position in Chord Energy by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 24,950 shares of the company’s stock worth $2,313,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $134.19 on Wednesday. The company has a market cap of $7.55 billion, a price-to-earnings ratio of -118.75 and a beta of 0.49. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $151.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a fifty day moving average price of $129.74 and a 200-day moving average price of $121.60.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business earned $4.04 earnings per share. As a group, equities analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid 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 was Wednesday, May 20th. Chord Energy’s dividend payout ratio is presently -460.18%.

Insider Activity

In related news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the sale, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction that occurred 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 sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,276 shares of company stock worth $1,285,968. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHRD shares. Morgan Stanley reduced their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Mizuho raised their price target on shares of Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Roth Capital reiterated a “buy” rating and issued a $145.00 price objective on shares of Chord Energy in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price objective 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. Finally, Wall Street Zen lowered shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Eleven 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 has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Chord Energy Company Profile

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.