BlackBarn Capital Partners LP Has $10.73 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

BlackBarn Capital Partners LP trimmed its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 22.0% during the second quarter, HoldingsChannel.com reports. The firm owned 64,000 shares of the company’s stock after selling 18,000 shares during the period. Chord Energy makes up approximately 1.0% of BlackBarn Capital Partners LP’s portfolio, making the stock its 8th biggest holding. BlackBarn Capital Partners LP’s holdings in Chord Energy were worth $10,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Fortem Financial Group LLC grew its holdings in Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after acquiring an additional 91 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Chord Energy by 0.6% during the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after purchasing an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares during the last quarter. Rise Advisors LLC acquired a new stake in Chord Energy in the first quarter valued at $31,000. Finally, Janney Montgomery Scott LLC raised its position in Chord Energy by 2.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock worth $1,086,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly 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 link. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Down 1.8 %

Chord Energy stock opened at $134.80 on Wednesday. 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 firm’s fifty day moving average price is $151.18 and its two-hundred day moving average price is $166.84. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. Chord Energy Co. has a 1-year low of $129.75 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.65 EPS. On average, equities research analysts predict that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.71%. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Analyst Ratings Changes

CHRD has been the topic of a number of analyst reports. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Piper Sandler reduced their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, BMO Capital Markets assumed coverage on shares of Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy 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.