Foster & Motley Inc. Has $712,000 Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Foster & Motley Inc. boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 80.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,249 shares of the company’s stock after acquiring an additional 1,894 shares during the period. Foster & Motley Inc.’s holdings in Chord Energy were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. Rise Advisors LLC bought a new position in shares of Chord Energy in the 1st quarter worth about $31,000. GAMMA Investing LLC increased its holdings in Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in Chord Energy in the second quarter valued at approximately $60,000. Quadrant Capital Group LLC boosted its holdings in shares of Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after buying an additional 197 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Chord Energy during the 1st quarter worth approximately $72,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Wolfe Research assumed coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price for the company. Piper Sandler cut their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Mizuho raised their price objective on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Stock Down 2.2 %

Shares of NASDAQ:CHRD opened at $134.37 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.88 and a beta of 0.99. The business’s 50 day moving average is $160.03 and its 200 day moving average is $169.10. Chord Energy Co. has a 12-month low of $133.96 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.65 EPS. On average, sell-side analysts forecast that Chord Energy Co. will post 19.61 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.72%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

About Chord Energy

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.