Inspire Investing LLC Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

Inspire Investing LLC increased its stake in Chord Energy Co. (NASDAQ:CHRD) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,576 shares of the company’s stock after purchasing an additional 456 shares during the quarter. Inspire Investing LLC’s holdings in Chord Energy were worth $1,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its position in Chord Energy by 35.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,904 shares of the company’s stock worth $483,000 after acquiring an additional 766 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Chord Energy by 2.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock valued at $1,086,000 after buying an additional 175 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after buying an additional 197 shares during the last quarter. Assetmark Inc. raised its position in shares of Chord Energy by 23.4% in the 4th quarter. Assetmark Inc. now owns 1,206 shares of the company’s stock worth $200,000 after buying an additional 229 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Chord Energy by 13.9% in the fourth quarter. Neuberger Berman Group LLC now owns 6,012 shares of the company’s stock valued at $999,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Buying and Selling

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 price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $136.34 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a fifty-two week low of $129.75 and a fifty-two week high of $190.23. The business has a 50 day moving average price of $153.51 and a two-hundred day moving average price of $167.31. The firm has a market cap of $5.68 billion, a PE ratio of 6.40, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.65 earnings per share. Sell-side analysts expect that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.67%. Chord Energy’s payout ratio is 23.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group initiated coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Wolfe Research began coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial dropped their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Finally, Piper Sandler lowered their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

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.