Susquehanna Fundamental Investments LLC Grows Holdings in Chord Energy Co. (NASDAQ:CHRD)

Susquehanna Fundamental Investments LLC lifted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 3,952.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 239,027 shares of the company’s stock after buying an additional 233,129 shares during the quarter. Chord Energy accounts for about 0.9% of Susquehanna Fundamental Investments LLC’s investment portfolio, making the stock its 7th largest holding. Susquehanna Fundamental Investments LLC’s holdings in Chord Energy were worth $40,080,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Boston Partners grew its holdings in shares of Chord Energy by 107.0% during the 1st 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 last quarter. Millennium Management LLC grew its holdings in Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in Chord Energy in the 2nd quarter worth $36,495,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 2.7 %

Shares of NASDAQ CHRD opened at $130.80 on Friday. Chord Energy Co. has a 1 year low of $126.96 and a 1 year high of $190.23. The stock has a market cap of $5.45 billion, a P/E ratio of 6.14, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The firm has a 50-day moving average of $148.46 and a 200 day moving average of $166.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $982.43 million. During the same period last year, the business earned $3.65 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts expect that Chord Energy Co. will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.82%. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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 target on the stock. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Truist Financial cut their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Citigroup cut their price target 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. Finally, Piper Sandler cut their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.