KGH Ltd Has $81.49 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

KGH Ltd lifted its stake in Chord Energy Co. (NASDAQ:CHRD) by 872.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,998 shares of the company’s stock after purchasing an additional 435,998 shares during the period. Chord Energy comprises about 4.7% of KGH Ltd’s investment portfolio, making the stock its 9th largest position. KGH Ltd owned 1.17% of Chord Energy worth $81,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fortem Financial Group LLC lifted its holdings in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after buying an additional 91 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Chord Energy by 0.6% in 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 acquiring an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares in the last quarter. Rise Advisors LLC bought a new position in Chord Energy during the 1st quarter worth about $31,000. Finally, Ellsworth Advisors LLC increased its position in Chord Energy by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock valued at $511,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 0.4 %

Shares of NASDAQ:CHRD opened at $130.23 on Tuesday. Chord Energy Co. has a 1 year low of $126.96 and a 1 year high of $190.23. The firm has a market capitalization of $5.43 billion, a P/E ratio of 6.11, a P/E/G ratio of 4.92 and a beta of 0.99. 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 business’s 50-day moving average is $148.46 and its 200 day moving average is $166.15.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.65 earnings per share. On average, research analysts predict that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insider Buying and Selling

In other news, Director Samantha Holroyd purchased 500 shares of the company’s 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 purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Citigroup cut their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial decreased their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Finally, Bank of America lifted their target price 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 issued a buy rating to the company. According to data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $198.30.

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.