Hara Capital LLC Lowers Holdings in Chord Energy Corporation $CHRD

Hara Capital LLC lessened its stake in Chord Energy Corporation (NASDAQ:CHRD) by 44.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,067 shares of the company’s stock after selling 6,393 shares during the quarter. Hara Capital LLC’s holdings in Chord Energy were worth $781,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bayforest Capital Ltd bought a new position in shares of Chord Energy during the 2nd quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after buying an additional 196 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after buying an additional 529 shares during the last quarter. Allworth Financial LP grew its holdings in Chord Energy by 160.5% during the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock valued at $64,000 after buying an additional 406 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Chord Energy by 254.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 1,250 shares of Chord Energy stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the acquisition, the director owned 17,706 shares in the company, valued at $1,513,863. This represents a 7.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHRD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. 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 research report on Friday, November 14th. Piper Sandler dropped their price objective on shares of Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Scotiabank initiated coverage on shares of Chord Energy in a report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price on the stock. Finally, Morgan Stanley set a $123.00 price target on shares of Chord Energy in a report on Thursday, November 20th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.31.

Chord Energy Trading Down 1.6%

CHRD stock opened at $97.36 on Friday. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $129.32. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 37.45 and a beta of 0.92. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $92.50 and its two-hundred day simple moving average is $99.44.

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

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s payout ratio is 200.00%.

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.