BlackBarn Capital Partners LP Has $10.73 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

BlackBarn Capital Partners LP trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 22.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,000 shares of the company’s stock after selling 18,000 shares during the period. Chord Energy makes up approximately 1.0% of BlackBarn Capital Partners LP’s investment portfolio, making the stock its 8th largest holding. BlackBarn Capital Partners LP owned 0.15% of Chord Energy worth $10,732,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

CHRD has been the topic of a number of analyst reports. 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 note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Truist Financial cut their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group initiated coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Finally, Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.10.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $134.80 on Wednesday. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy Co. has a fifty-two week low of $129.75 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a fifty day moving average price of $151.18 and a 200-day moving average price of $166.84.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share 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 for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the prior year, the company earned $3.65 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities analysts anticipate that Chord Energy Co. will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.71%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

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.