Aristeia Capital L.L.C. Makes New $505,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

Aristeia Capital L.L.C. acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,014 shares of the company’s stock, valued at approximately $505,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kraematon Investment Advisors Inc. acquired a new position in shares of Chord Energy in the second quarter valued at about $4,426,000. Capital Fund Management S.A. lifted its position in shares of Chord Energy by 252.9% during the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after buying an additional 31,484 shares during the last quarter. Sei Investments Co. lifted its position in shares of Chord Energy by 24.0% during the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Chord Energy in the first quarter valued at about $884,000. Finally, BOKF NA grew its position in Chord Energy by 1,678.3% in the first quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after acquiring an additional 14,601 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research analyst reports. Truist Financial reduced their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets started coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price on the stock. Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $137.30 on Tuesday. The firm’s 50-day moving average price is $152.03 and its 200-day moving average price is $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 current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm 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 posted its quarterly 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 business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the previous year, the business posted $3.65 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 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.