Caxton Associates LP Makes New $2.52 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Caxton Associates LP acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $2,515,000.

A number of other hedge funds also recently made changes to their positions in CHRD. HITE Hedge Asset Management LLC bought a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $36,495,000. Aristeia Capital L.L.C. bought a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $505,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $1,995,000. Point72 DIFC Ltd grew its holdings in shares of Chord Energy by 121.4% during the 2nd quarter. Point72 DIFC Ltd now owns 10,550 shares of the company’s stock valued at $1,769,000 after purchasing an additional 5,784 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Chord Energy by 59.5% during the 2nd quarter. Marshall Wace LLP now owns 347,316 shares of the company’s stock valued at $58,238,000 after purchasing an additional 129,539 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of CHRD stock opened at $132.82 on Thursday. The firm has a market capitalization of $5.54 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The firm has a fifty day simple moving average of $150.31 and a two-hundred day simple moving average of $166.60. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a 12 month low of $129.75 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.65 EPS. Analysts forecast that Chord Energy Co. will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is 23.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price on the stock. Truist Financial dropped their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Bank of America boosted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

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.