Sagefield Capital LP Acquires 23,756 Shares of Chord Energy Co. (NASDAQ:CHRD)

Sagefield Capital LP increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 40.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,902 shares of the company’s stock after purchasing an additional 23,756 shares during the quarter. Chord Energy accounts for approximately 1.5% of Sagefield Capital LP’s investment portfolio, making the stock its 20th largest position. Sagefield Capital LP owned 0.20% of Chord Energy worth $13,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy during the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. lifted its position 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 purchasing an additional 136 shares during the period. GAMMA Investing LLC lifted its position in Chord Energy by 151.6% during the second 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. Finally, Atlas Capital Advisors LLC bought a new stake in Chord Energy during the second quarter worth about $60,000. Institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $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 company insiders.

Analyst Ratings Changes

CHRD has been the subject of several recent analyst reports. Wolfe Research assumed coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. BMO Capital Markets assumed coverage on Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price for the company. Citigroup lowered their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a research note on Friday. Finally, Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Stock Performance

Chord Energy stock opened at $137.30 on Tuesday. The business has a 50 day moving average of $152.03 and a 200-day moving average of $167.03. Chord Energy Co. has a 1 year low of $129.75 and a 1 year high of $190.23. 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 company has a market capitalization of $5.72 billion, a P/E ratio of 6.44, a P/E/G ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released 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 net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the company earned $3.65 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy Co. will post 19.67 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced 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 annualized dividend and a yield of 3.64%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is presently 23.46%.

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.