Frank Rimerman Advisors LLC Takes $744,000 Position in Chord Energy Corporation $CHRD

Frank Rimerman Advisors LLC purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 7,683 shares of the company’s stock, valued at approximately $744,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHRD. Assetmark Inc. boosted its holdings in Chord Energy by 7.3% in the 2nd quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock worth $137,000 after buying an additional 96 shares during the last quarter. Lynx Investment Advisory boosted its stake in shares of Chord Energy by 3.6% in the second quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after acquiring an additional 99 shares during the last quarter. National Bank of Canada FI increased its position in shares of Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company’s stock worth $592,000 after purchasing an additional 106 shares in the last quarter. Voya Investment Management LLC raised its stake in Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock valued at $854,000 after purchasing an additional 107 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Chord Energy by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock valued at $329,000 after purchasing an additional 118 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Samantha Holroyd purchased 1,250 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the acquisition, the director owned 17,706 shares in the company, valued at $1,513,863. The trade was a 7.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.70% of the stock is currently owned by company insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $91.40 on Thursday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $134.54. The firm has a market cap of $5.20 billion, a PE ratio of 35.15 and a beta of 0.92. The company’s 50 day simple moving average is $94.98 and its 200-day simple moving average is $99.29. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $3.40 EPS. Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is 200.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Roth Capital began coverage on shares of Chord Energy in a report on Monday, October 13th. They set a “buy” rating and a $130.00 target price for the company. Piper Sandler lowered their price target on shares of Chord Energy from $167.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Chord Energy from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Scotiabank began coverage on shares of Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price on the stock. Finally, Bank of America boosted their price objective on Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.08.

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.