Huber Capital Management LLC Reduces Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Huber Capital Management LLC lowered its position in Chord Energy Co. (NASDAQ:CHRD) by 20.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,842 shares of the company’s stock after selling 3,000 shares during the quarter. Huber Capital Management LLC’s holdings in Chord Energy were worth $1,986,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Chord Energy in the 1st quarter valued at about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy in the second quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the period. GAMMA Investing LLC boosted its position in Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after acquiring an additional 191 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy in the 2nd quarter valued at $60,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, 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 available at this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

NASDAQ CHRD opened at $136.73 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 6.42, 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. The stock’s fifty day moving average price is $152.80 and its 200 day moving average price is $167.15. Chord Energy Co. has a 1 year low of $129.75 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data 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 return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter in the previous year, the business earned $3.65 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts forecast 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. Stockholders 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 dividend yield of 3.66%. Chord Energy’s payout ratio is currently 23.46%.

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.