Royal Bank of Canada Ups Stake in Chord Energy Corporation

Chord Energy Corporation's (NASDAQ:CHRD) shares have been acquired by Royal Bank of Canada, significantly increasing its stake in the company. According to a recent Form 13F filing with the Securities and Exchange Commission, Royal Bank of Canada purchased an additional 19,896 shares during the first quarter, bringing its total ownership to 36,579 shares.

This represents a 119.3% increase in its stake in Chord Energy Corporation, which is now valued at $5,202,000. 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.

Chord Energy Corporation has a market capitalization of $7.53 billion and a PE ratio of 9.22. The company reported $6.44 EPS for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11). As a group, research analysts forecast that Chord Energy Corporation will post 18.03 earnings per share for the current fiscal year.