Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in Chord Energy Co. (NASDAQ:CHRD) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,211 shares of the company’s stock after buying an additional 326 shares during the quarter. Parallel Advisors LLC’s holdings in Chord Energy were worth $371,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Chord Energy by 757.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock valued at $590,000 after buying an additional 3,142 shares during the period. BOKF NA lifted its holdings in shares of Chord Energy by 29.4% in the 2nd quarter. BOKF NA now owns 20,014 shares of the company’s stock valued at $3,356,000 after buying an additional 4,543 shares during the period. American Century Companies Inc. lifted its holdings in shares of Chord Energy by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Chord Energy by 3.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock valued at $3,029,000 after buying an additional 624 shares during the period. Finally, SIR Capital Management L.P. acquired a new stake in shares of Chord Energy in the 2nd quarter valued at approximately $32,895,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHRD shares. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Truist Financial reduced their price objective on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a report on Thursday, September 5th. Piper Sandler reduced their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, BMO Capital Markets started coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Stock Performance

Chord Energy stock opened at $136.93 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a fifty day moving average of $154.86 and a two-hundred day moving average of $167.75. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 4.48 and a beta of 0.99. Chord Energy Co. has a fifty-two week low of $129.75 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS 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 net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.65 EPS. On average, analysts anticipate that Chord Energy Co. will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

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.