GAMMA Investing LLC Sells 158 Shares of Chord Energy Co. (NASDAQ:CHRD)

GAMMA Investing LLC lowered its holdings in Chord Energy Co. (NASDAQ:CHRD) by 38.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256 shares of the company’s stock after selling 158 shares during the quarter. GAMMA Investing LLC’s holdings in Chord Energy were worth $30,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy in the second quarter worth $40,000. State of New Jersey Common Pension Fund D raised its stake in shares of Chord Energy by 3.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock worth $3,029,000 after purchasing an additional 624 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Chord Energy by 757.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock worth $590,000 after buying an additional 3,142 shares during the last quarter. Parallel Advisors LLC grew its position in Chord Energy by 17.3% during the second quarter. Parallel Advisors LLC now owns 2,211 shares of the company’s stock valued at $371,000 after buying an additional 326 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Chord Energy by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 139,711 shares of the company’s stock worth $23,427,000 after buying an additional 16,877 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.7 %

CHRD stock opened at $126.70 on Wednesday. The business’s 50-day moving average price is $122.60 and its 200-day moving average price is $138.36. The stock has a market cap of $7.75 billion, a P/E ratio of 6.52, a PEG ratio of 4.79 and a beta of 0.99. Chord Energy Co. has a twelve month low of $109.59 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% on a year-over-year basis. During the same period last year, the company earned $5.04 EPS. On average, equities research analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insider Activity at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CHRD shares. Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday. Bank of America restated a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.23.

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.