Chord Energy Co. (NASDAQ:CHRD) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC raised its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,160 shares of the company’s stock after buying an additional 202 shares during the quarter. Fortem Financial Group LLC’s holdings in Chord Energy were worth $1,033,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CHRD. New York State Teachers Retirement System grew its holdings in shares of Chord Energy by 0.6% during the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after buying an additional 100 shares in the last quarter. Rise Advisors LLC purchased a new stake in Chord Energy in the 1st quarter worth approximately $31,000. Janney Montgomery Scott LLC raised its holdings in Chord Energy by 2.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock valued at $1,086,000 after acquiring an additional 175 shares during the last quarter. Ellsworth Advisors LLC raised its holdings in Chord Energy by 6.6% in the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock valued at $511,000 after acquiring an additional 188 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD opened at $141.41 on Wednesday. Chord Energy Co. has a 52-week low of $141.14 and a 52-week high of $190.23. The company has a 50 day moving average of $161.83 and a two-hundred day moving average of $169.74. The company has a market cap of $5.90 billion, a P/E ratio of 6.64, a P/E/G ratio of 0.88 and a beta of 1.01. 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 (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same period last year, the company posted $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts expect that Chord Energy Co. will post 19.61 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.54%. Chord Energy’s payout ratio is currently 23.46%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Mizuho lifted their price objective on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. 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. Truist Financial cut their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Citigroup cut their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.78.

Insider Buying and Selling

In other news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.