Chord Energy Co. (NASDAQ:CHRD) Shares Purchased by SIR Capital Management L.P.

SIR Capital Management L.P. raised its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,785 shares of the company’s stock after buying an additional 6,005 shares during the period. Chord Energy comprises about 2.1% of SIR Capital Management L.P.’s holdings, making the stock its 13th largest holding. SIR Capital Management L.P. owned about 0.28% of Chord Energy worth $19,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CHRD. Barclays PLC raised its position in Chord Energy by 3.7% in the 3rd quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after purchasing an additional 2,318 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Chord Energy by 72.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock valued at $3,631,000 after acquiring an additional 11,527 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Chord Energy by 5.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock worth $657,000 after purchasing an additional 284 shares in the last quarter. Tallon Kerry Patrick purchased a new position in shares of Chord Energy in the 4th quarter valued at $204,000. Finally, Merit Financial Group LLC acquired a new position in Chord Energy in the fourth quarter valued at $553,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CHRD. Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Mizuho lowered their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Citigroup reduced their target price on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $153.92.

Chord Energy Stock Down 2.1%

CHRD opened at $95.88 on Friday. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02. The firm has a 50 day moving average price of $98.20 and a 200 day moving average price of $111.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $5.54 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.10 earnings per share. Sell-side analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.42%. Chord Energy’s payout ratio is 34.78%.

Insider Activity

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.