Xponance Inc. Increases Holdings in Chord Energy Co. (NASDAQ:CHRD)

Xponance Inc. boosted its position in Chord Energy Co. (NASDAQ:CHRD) by 61.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,636 shares of the company’s stock after purchasing an additional 3,674 shares during the period. Xponance Inc.’s holdings in Chord Energy were worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Chord Energy in the first quarter valued at $31,000. Ashton Thomas Private Wealth LLC acquired a new position in Chord Energy during the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. lifted its holdings 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 valued at $41,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after purchasing an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy during the 2nd quarter worth approximately $60,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

Chord Energy Trading Down 4.1 %

Shares of CHRD stock opened at $127.41 on Friday. Chord Energy Co. has a 1-year low of $126.96 and a 1-year high of $190.23. The firm’s 50-day simple moving average is $149.35 and its 200-day simple moving average is $166.33. The firm has a market cap of $5.31 billion, a P/E ratio of 5.98, a PEG ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

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 analysts’ consensus estimates of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.65 EPS. As a group, equities analysts forecast that Chord Energy Co. will post 18.48 EPS for the current 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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHRD shares. Truist Financial lowered their target price on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Piper Sandler decreased their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Citigroup dropped their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Bank of America upped their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, 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. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy 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.