Huber Capital Management LLC Lowers Stake in Chord Energy Co. (NASDAQ:CHRD)

Huber Capital Management LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,842 shares of the company’s stock after selling 3,000 shares during the period. Huber Capital Management LLC’s holdings in Chord Energy were worth $1,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 741,705 shares during the period. Victory Capital Management Inc. grew its stake in Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares during the period. First Trust Advisors LP increased its holdings in Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after acquiring an additional 138,957 shares in the last quarter. Boston Partners raised 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 acquiring an additional 674,965 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after purchasing an additional 113,618 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction that occurred on 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 acquisition, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the subject of several research analyst reports. Bank of America upped their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler decreased 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. BMO Capital Markets initiated coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Citigroup decreased their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a research note on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.10.

Chord Energy Price Performance

Chord Energy stock opened at $136.73 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $152.80 and a 200 day moving average price of $167.15. Chord Energy Co. has a 12-month low of $129.75 and a 12-month high of $190.23. The stock has a market cap of $5.70 billion, a P/E ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last announced 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 return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same quarter in the prior year, the business earned $3.65 EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Co. will post 19.67 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 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.