MQS Management LLC Raises Stock Position in Chord Energy Co. (NASDAQ:CHRD)

MQS Management LLC lifted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 94.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,329 shares of the company’s stock after buying an additional 1,615 shares during the period. MQS Management LLC’s holdings in Chord Energy were worth $558,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Chord Energy during the 1st quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the second quarter valued at $40,000. GAMMA Investing LLC boosted its stake in shares of Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Atlas Capital Advisors LLC bought a new stake in Chord Energy in the second quarter worth about $60,000. Finally, Quadrant Capital Group LLC lifted its stake 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 acquiring an additional 197 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 0.7 %

Shares of Chord Energy stock opened at $135.95 on Thursday. Chord Energy Co. has a 52-week low of $129.75 and a 52-week high of $190.23. The firm’s 50 day moving average price is $154.20 and its 200-day moving average price is $167.53. 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 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.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the business earned $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts predict that Chord Energy Co. will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on CHRD. Piper Sandler cut their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Truist Financial cut their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research note on Thursday, September 5th. Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy 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.