Kendall Capital Management Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Kendall Capital Management grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 92.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,650 shares of the company’s stock after buying an additional 2,230 shares during the period. Kendall Capital Management’s holdings in Chord Energy were worth $780,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the period. First Trust Advisors LP boosted its position in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares in the last quarter. Boston Partners grew its stake in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares during the period. Finally, American Century Companies Inc. raised its holdings in Chord Energy by 13.2% in the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after purchasing an additional 113,618 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CHRD. Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup cut their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, 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 research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Trading Down 0.7 %

Shares of NASDAQ:CHRD opened at $135.95 on Thursday. Chord Energy Co. has a 1 year low of $129.75 and a 1 year high of $190.23. The stock’s fifty day moving average price is $154.20 and its 200-day moving average price is $167.53. The company has a market cap of $5.67 billion, a P/E ratio of 6.38, a PEG ratio of 4.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the company posted $3.65 EPS. Chord Energy’s revenue was up 29.8% on a year-over-year basis. Sell-side analysts expect that Chord Energy Co. will post 19.67 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Chord Energy Company Profile

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.