Pallas Capital Advisors LLC bought a new position in Chord Energy Corporation (NASDAQ:CHRD – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,683 shares of the company’s stock, valued at approximately $744,000.
Several other hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Chord Energy by 3.7% during the first quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock worth $130,515,000 after acquiring an additional 41,797 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Chord Energy by 6.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company’s stock worth $89,198,000 after acquiring an additional 47,649 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Chord Energy by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company’s stock worth $83,675,000 after acquiring an additional 53,927 shares in the last quarter. Palo Duro Investment Partners LP raised its stake in Chord Energy by 3.1% during the first quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company’s stock worth $77,742,000 after acquiring an additional 20,940 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Chord Energy by 9.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company’s stock worth $69,744,000 after acquiring an additional 52,375 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.
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Chord Energy Price Performance
Shares of CHRD stock opened at $100.37 on Friday. The stock has a 50-day moving average price of $105.59 and a 200 day moving average price of $101.03. 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 firm has a market cap of $5.75 billion, a price-to-earnings ratio of 25.54 and a beta of 0.97. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $140.15.
Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same quarter in the previous year, the business earned $4.69 earnings per share. Chord Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.
Chord Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were issued 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 5.2%. Chord Energy’s dividend payout ratio (DPR) is 132.32%.
Insider Transactions at Chord Energy
In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction dated 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 trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on CHRD. Wells Fargo & Company increased their price objective on Chord Energy from $146.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Scotiabank assumed coverage on Chord Energy in a research note on Friday. They set a “sector perform” rating and a $120.00 price objective for the company. UBS Group raised their target price on Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.15.
Read Our Latest Research Report on Chord Energy
About Chord Energy
(Free Report)
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.
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