GAMMA Investing LLC Increases Stake in Chord Energy Co. (NASDAQ:CHRD)

GAMMA Investing LLC boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 30.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 414 shares of the company’s stock after purchasing an additional 97 shares during the period. GAMMA Investing LLC’s holdings in Chord Energy were worth $54,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares during the period. Dimensional Fund Advisors LP grew its position in Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the period. Boston Partners raised its stake in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after buying an additional 483,144 shares during the last quarter. Finally, KGH Ltd grew its holdings in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after acquiring an additional 435,998 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent research reports. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Piper Sandler lifted their price target on Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Wolfe Research assumed coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Trading Up 1.5 %

Shares of CHRD opened at $128.35 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $140.35 and a 200 day moving average price of $162.89. Chord Energy Co. has a 12-month low of $126.38 and a 12-month high of $190.23. The firm has a market capitalization of $5.35 billion, a P/E ratio of 6.02, a P/E/G ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the company earned $3.65 EPS. Sell-side analysts forecast that Chord Energy Co. will post 17.93 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.90%. Chord Energy’s dividend payout ratio is currently 23.46%.

Chord Energy 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.