GAMMA Investing LLC Boosts Position in Chord Energy Corporation $CHRD

GAMMA Investing LLC boosted its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 64.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,197 shares of the company’s stock after acquiring an additional 470 shares during the quarter. GAMMA Investing LLC’s holdings in Chord Energy were worth $116,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Chord Energy by 3.7% during the first quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock worth $130,515,000 after purchasing an additional 41,797 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Chord Energy by 6.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company’s stock worth $89,198,000 after purchasing an additional 47,649 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Chord Energy by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company’s stock worth $83,675,000 after purchasing an additional 53,927 shares in the last quarter. Palo Duro Investment Partners LP grew its position in shares of Chord Energy by 3.1% during the first quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company’s stock worth $77,742,000 after purchasing an additional 20,940 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Chord Energy by 9.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company’s stock worth $69,744,000 after purchasing an additional 52,375 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.1%

Shares of NASDAQ:CHRD opened at $100.43 on Thursday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $139.26. The business’s fifty day simple moving average is $104.94 and its 200-day simple moving average is $100.93. The company has a market capitalization of $5.75 billion, a PE ratio of 25.55 and a beta of 0.94. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $984.07 million. During the same quarter in the prior year, the business posted $4.69 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s payout ratio is 132.32%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of research reports. Bank of America increased their price target on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. UBS Group increased their price target on Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Mizuho dropped their price target on Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company increased their price target on Chord Energy from $146.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.15.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company 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.