Focus Partners Advisor Solutions LLC Makes New $370,000 Investment in Chord Energy Corporation $CHRD

Focus Partners Advisor Solutions LLC acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,818 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in Chord Energy during the second quarter worth $28,000. Hexagon Capital Partners LLC boosted its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares during the period. Caitong International Asset Management Co. Ltd boosted its position 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 worth $61,000 after purchasing an additional 529 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Chord Energy by 254.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after buying an additional 493 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Chord Energy by 89.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after buying an additional 327 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of research reports. UBS Group lifted their target price on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Roth Capital assumed coverage on Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 price target on the stock. Wall Street Zen raised Chord Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Chord Energy in a research note on Monday, October 6th. Finally, Bank of America increased their target price on shares of Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $138.38.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $90.23 on Friday. The stock has a market cap of $5.17 billion, a P/E ratio of 22.96 and a beta of 0.94. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average is $99.88 and its 200-day moving average is $99.54. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $136.38.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.69 EPS. Equities research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio is currently 132.32%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.