Frank Rimerman Advisors LLC Invests $759,000 in Chord Energy Co. (NASDAQ:CHRD)

Frank Rimerman Advisors LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,524 shares of the company’s stock, valued at approximately $759,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after buying an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Boston Partners lifted its position in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after acquiring an additional 674,965 shares during the last quarter. SIR Capital Management L.P. acquired a new position in Chord Energy in the second quarter valued at $32,895,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Chord Energy by 168.5% during the second quarter. Renaissance Technologies LLC now owns 280,116 shares of the company’s stock worth $46,970,000 after purchasing an additional 175,798 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 0.4 %

NASDAQ CHRD opened at $137.30 on Tuesday. 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 stock 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 Co. has a 52-week low of $129.75 and a 52-week high of $190.23. The firm has a 50-day moving average price of $152.03 and a 200 day moving average price of $167.03.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 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 prior year, the business earned $3.65 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts expect that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. 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 3.64%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHRD shares. Piper Sandler decreased their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company 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 on the stock. Citigroup reduced their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday. Finally, BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Insider Activity

In related news, Director Samantha Holroyd bought 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, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

About Chord Energy

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.