MQS Management LLC Boosts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

MQS Management LLC increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 94.2% in the 2nd quarter, Holdings Channel reports. The firm owned 3,329 shares of the company’s stock after purchasing an additional 1,615 shares during the period. MQS Management LLC’s holdings in Chord Energy were worth $558,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 741,705 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Chord Energy by 397.5% in the second 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 in the last quarter. First Trust Advisors LP increased its holdings in shares of 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 lifted its position in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after buying an additional 674,965 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Chord Energy by 13.2% during 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. 97.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased 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 directly owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Chord Energy Stock Down 0.7 %

Shares of CHRD opened at $135.95 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market capitalization of $5.67 billion, a PE ratio of 6.38, a P/E/G ratio of 4.48 and a beta of 0.99. The company’s 50-day simple moving average is $154.20 and its 200-day simple moving average is $167.53. Chord Energy Co. has a 1 year low of $129.75 and a 1 year high of $190.23.

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 return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same period in the prior year, the company posted $3.65 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. 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 issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Analysts Set New Price Targets

CHRD has been the topic of several recent research reports. Wolfe Research began coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Thursday, September 5th. Truist Financial reduced their target price on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Citigroup decreased their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Company 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.