Chord Energy Co. (NASDAQ:CHRD) Stock Position Raised by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 36.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,582 shares of the company’s stock after acquiring an additional 5,522 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Chord Energy were worth $2,406,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Delta Capital Management LLC lifted its position in Chord Energy by 4.3% in the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after buying an additional 90 shares in the last quarter. Gables Capital Management Inc. lifted its position in Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after buying an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after buying an additional 106 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after buying an additional 110 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company’s stock worth $208,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHRD. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Mizuho dropped their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup dropped their price target on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $153.92.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $95.88 on Friday. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02. The firm’s fifty day simple moving average is $98.20 and its 200 day simple moving average is $111.86. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.54 billion, a PE ratio of 4.94, a PEG ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $5.10 EPS. On average, sell-side analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.42%. Chord Energy’s dividend payout ratio is 34.78%.

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.