Aristeia Capital L.L.C. Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Aristeia Capital L.L.C. purchased a new position in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, Holdings Channel reports. The fund purchased 3,014 shares of the company’s stock, valued at approximately $505,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the period. First Trust Advisors LP lifted its stake in Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the last quarter. Boston Partners grew its holdings in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares during the period. Finally, American Century Companies Inc. increased its position in Chord Energy by 13.2% in the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after buying an additional 113,618 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CHRD shares. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Truist Financial cut their target price 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. Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. BMO Capital Markets assumed coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Friday. 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 company presently has an average rating of “Moderate Buy” and an average target price of $202.10.

Insiders Place Their Bets

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

Chord Energy Trading Up 0.4 %

Chord Energy stock opened at $137.30 on Tuesday. The stock has a market cap of $5.72 billion, a P/E ratio of 6.44, a PEG ratio of 4.48 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 firm’s fifty day moving average price is $152.03 and its 200-day moving average price is $167.03. 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 (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.65 earnings per share. Equities research analysts forecast that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company 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. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.64%. Chord Energy’s payout ratio is 23.46%.

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.