Evergreen Capital Management LLC Acquires 724 Shares of Chord Energy Co. (NASDAQ:CHRD)

Evergreen Capital Management LLC boosted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 47.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,266 shares of the company’s stock after purchasing an additional 724 shares during the quarter. Evergreen Capital Management LLC’s holdings in Chord Energy were worth $380,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board purchased a new position in shares of Chord Energy in the second quarter worth $1,409,000. EverSource Wealth Advisors LLC increased its holdings in Chord Energy by 140.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 977 shares of the company’s stock valued at $168,000 after acquiring an additional 570 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Chord Energy in the 2nd quarter worth $759,000. ProShare Advisors LLC boosted its holdings in shares of Chord Energy by 18.6% during the 2nd quarter. ProShare Advisors LLC now owns 11,313 shares of the company’s stock valued at $1,897,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Chord Energy by 45.2% during the second quarter. Thrivent Financial for Lutherans now owns 15,024 shares of the company’s stock valued at $2,519,000 after purchasing an additional 4,680 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

CHRD stock opened at $127.41 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. Chord Energy Co. has a 12 month low of $126.96 and a 12 month high of $190.23. The stock has a market cap of $5.31 billion, a PE ratio of 5.98, a P/E/G ratio of 4.92 and a beta of 0.99. The company has a 50-day moving average price of $149.35 and a 200 day moving average price of $166.33.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 EPS 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 business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the prior year, the company posted $3.65 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that Chord Energy Co. will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHRD shares. Truist Financial decreased 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. Piper Sandler lowered their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Finally, Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Insider Activity

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.