Susquehanna Fundamental Investments LLC Invests $1.05 Million in Chord Energy Co. (NASDAQ:CHRD)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,898 shares of the company’s stock, valued at approximately $1,051,000.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Chord Energy in the first quarter worth $31,000. Contravisory Investment Management Inc. boosted its holdings in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares during the period. Finally, Viking Fund Management LLC boosted its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. BMO Capital Markets assumed coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Citigroup assumed coverage on shares of Chord Energy in a report on Monday, July 1st. They issued a “buy” rating and a $195.00 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $201.00 price objective on shares of Chord Energy in a report on Friday, June 14th. Finally, Mizuho upped their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Chord Energy Price Performance

NASDAQ CHRD traded up $4.83 on Monday, reaching $176.82. The company’s stock had a trading volume of 310,208 shares, compared to its average volume of 931,575. The firm’s 50 day moving average is $173.66 and its two-hundred day moving average is $169.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a market cap of $7.37 billion, a PE ratio of 8.07, a PEG ratio of 0.89 and a beta of 1.01. Chord Energy Co. has a twelve month low of $145.06 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.50 EPS. As a group, sell-side analysts predict that Chord Energy Co. will post 22.27 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $2.94 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.65%. Chord Energy’s dividend payout ratio is 23.46%.

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.