KLP Kapitalforvaltning AS Purchases 800 Shares of Chord Energy Corporation $CHRD

KLP Kapitalforvaltning AS lifted its position in Chord Energy Corporation (NASDAQ:CHRD) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,542 shares of the company’s stock after buying an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Chord Energy were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after buying an additional 529 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Chord Energy by 254.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after buying an additional 493 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after buying an additional 327 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Chord Energy by 195.8% in the first quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock worth $79,000 after buying an additional 462 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

CHRD opened at $92.63 on Tuesday. The firm has a market cap of $5.30 billion, a P/E ratio of 23.57 and a beta of 0.94. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $136.38. The company has a 50 day simple moving average of $102.83 and a two-hundred day simple moving average of $99.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90.

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

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.6%. Chord Energy’s dividend payout ratio is currently 132.32%.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CHRD. UBS Group upped their target price on shares of Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Chord Energy in a report on Monday, October 6th. Piper Sandler decreased their price objective on shares of Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

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.