MBB Public Markets I LLC Purchases Shares of 4,389 Chord Energy Co. (NASDAQ:CHRD)

MBB Public Markets I LLC acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,389 shares of the company’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHRD. Caxton Associates LP acquired a new stake in Chord Energy in the 2nd quarter worth about $2,515,000. HITE Hedge Asset Management LLC acquired a new position in shares of Chord Energy during the 2nd quarter valued at about $36,495,000. Aristeia Capital L.L.C. purchased a new position in shares of Chord Energy during the 2nd quarter worth about $505,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Chord Energy in the second quarter worth approximately $1,995,000. Finally, Point72 DIFC Ltd grew its holdings in 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 purchasing an additional 5,784 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.3 %

NASDAQ CHRD opened at $130.59 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a fifty-two week low of $126.96 and a fifty-two week high of $190.23. The business has a 50 day moving average price of $147.58 and a two-hundred day moving average price of $165.92. The stock has a market cap of $5.44 billion, a PE ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data 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). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same period in the previous year, the company earned $3.65 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts predict that Chord Energy Co. will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

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

Wall Street Analyst Weigh In

CHRD has been the topic of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Piper Sandler cut their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research report on Friday, September 20th. Wolfe Research started coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.90.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a legal filing 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.