Prime Capital Investment Advisors LLC Takes Position in Chord Energy Corporation $CHRD

Prime Capital Investment Advisors LLC bought a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,188 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also modified their holdings of CHRD. Nuveen LLC purchased a new stake in shares of Chord Energy during the first quarter valued at $36,837,000. HITE Hedge Asset Management LLC lifted its holdings in shares of Chord Energy by 27.8% during the first quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company’s stock valued at $50,275,000 after purchasing an additional 97,086 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Chord Energy by 176.1% during the first quarter. Trexquant Investment LP now owns 144,736 shares of the company’s stock valued at $16,315,000 after purchasing an additional 92,320 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Chord Energy by 864.5% during the first quarter. Gotham Asset Management LLC now owns 100,775 shares of the company’s stock valued at $11,359,000 after purchasing an additional 90,327 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock valued at $26,651,000 after purchasing an additional 88,490 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

CHRD opened at $90.59 on Monday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $136.38. The firm has a market capitalization of $5.19 billion, a P/E ratio of 23.05 and a beta of 0.94. The stock’s 50 day moving average price is $103.08 and its two-hundred day moving average price is $100.11. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Thursday, August 21st. Chord Energy’s dividend payout ratio is currently 132.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America increased their price objective on Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Mizuho reduced their price objective 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. UBS Group increased their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Piper Sandler reduced their price objective on Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a research note on Friday, October 3rd. Finally, Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.42.

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.