Aristides Capital LLC Makes New $222,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

Aristides Capital LLC bought a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,325 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortem Financial Group LLC boosted its position in Chord Energy by 1.6% during the first quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after purchasing an additional 91 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Chord Energy by 0.6% during the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Chord Energy in the 1st quarter worth approximately $31,000. Finally, Ellsworth Advisors LLC raised its stake in shares of Chord Energy by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock worth $511,000 after acquiring an additional 188 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several recent analyst reports. Wolfe Research started coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Bank of America raised their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Two 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.90.

Insider Buying and Selling

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Chord Energy Stock Performance

CHRD opened at $130.59 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a 12-month low of $126.96 and a 12-month high of $190.23. The firm has a 50 day moving average of $147.58 and a two-hundred day moving average of $165.92. The firm has a market capitalization of $5.44 billion, a PE ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued 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 return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the business earned $3.65 EPS. On average, analysts anticipate that Chord Energy Co. will post 18.48 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently announced 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 3.83%. Chord Energy’s payout ratio is 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.