Picton Mahoney Asset Management Acquires New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Picton Mahoney Asset Management acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 935 shares of the company’s stock, valued at approximately $156,000.

A number of other large investors have also recently added to or reduced their stakes in CHRD. Rise Advisors LLC acquired a new stake in Chord Energy in the 1st quarter valued at about $31,000. SRS Capital Advisors Inc. raised its position in shares of Chord Energy by 306.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after buying an additional 221 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy during the second quarter valued at approximately $60,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Chord Energy by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after buying an additional 197 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHRD shares. Truist Financial reduced their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets started coverage on shares of Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective on the stock. Bank of America upped their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Mizuho upped their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, 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 research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.78.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $148.43 on Monday. Chord Energy Co. has a fifty-two week low of $145.35 and a fifty-two week high of $190.23. The firm’s 50 day moving average is $162.79 and its two-hundred day moving average is $170.00. The company has a market cap of $6.19 billion, a P/E ratio of 6.97, a P/E/G ratio of 0.88 and a beta of 1.01. 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 (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the previous year, the company earned $3.65 EPS. Chord Energy’s revenue was up 29.8% on a year-over-year basis. Analysts expect that Chord Energy Co. will post 19.61 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

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.