MBB Public Markets I LLC Takes $736,000 Position in Chord Energy Co. (NASDAQ:CHRD)

MBB Public Markets I LLC bought a new stake in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,389 shares of the company’s stock, valued at approximately $736,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caxton Associates LP purchased a new position in shares of Chord Energy during the second quarter worth about $2,515,000. HITE Hedge Asset Management LLC purchased a new position in Chord Energy during the 2nd quarter worth approximately $36,495,000. Aristeia Capital L.L.C. acquired a new position in Chord Energy during the second quarter worth approximately $505,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Chord Energy in the second quarter valued at approximately $1,995,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Chord Energy by 121.4% in the second quarter. Point72 DIFC Ltd now owns 10,550 shares of the company’s stock valued at $1,769,000 after acquiring an additional 5,784 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHRD shares. Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Piper Sandler reduced their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Wolfe Research initiated coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. 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 report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday. Two investment 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, Chord Energy has an average rating of “Moderate Buy” and an average price target of $197.90.

Chord Energy Stock Up 0.3 %

Chord Energy stock opened at $130.59 on Wednesday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. Chord Energy Co. has a fifty-two week low of $126.96 and a fifty-two week high of $190.23. The stock’s fifty day moving average is $147.58 and its two-hundred day moving average is $165.92.

Chord Energy (NASDAQ:CHRD) last announced 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 analysts’ expectations of $982.43 million. During the same period last year, the company earned $3.65 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Analysts predict that Chord Energy Co. will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Chord Energy Company 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.