4,035 Shares in Chord Energy Corporation $CHRD Purchased by Ground Swell Capital LLC

Ground Swell Capital LLC purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,035 shares of the company’s stock, valued at approximately $541,000. Chord Energy makes up about 1.3% of Ground Swell Capital LLC’s portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtus Advisers LLC lifted its holdings in shares of Chord Energy by 25.1% in the third quarter. Virtus Advisers LLC now owns 7,163 shares of the company’s stock valued at $960,000 after purchasing an additional 1,438 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Chord Energy by 27.4% in the third quarter. Russell Investments Group Ltd. now owns 20,475 shares of the company’s stock worth $2,745,000 after buying an additional 4,403 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of Chord Energy by 14.4% during the third quarter. Maryland State Retirement & Pension System now owns 3,287 shares of the company’s stock valued at $441,000 after buying an additional 415 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Chord Energy by 12.4% during the third quarter. Ritholtz Wealth Management now owns 2,906 shares of the company’s stock valued at $390,000 after buying an additional 321 shares in the last quarter. Finally, Jacobi Capital Management LLC purchased a new position in shares of Chord Energy during the third quarter valued at $60,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Mckinney sold 9,750 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the transaction, the director owned 7,280 shares in the company, valued at $1,091,563.20. The trade was a 57.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

Chord Energy Stock Up 2.0%

Shares of NASDAQ:CHRD traded up $2.88 during trading on Friday, reaching $149.93. 634,938 shares of the company traded hands, compared to its average volume of 859,241. The firm has a fifty day simple moving average of $144.92 and a 200 day simple moving average of $133.06. The company has a quick ratio of 1.29, a current ratio of 1.34 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 1-year low of $87.35 and a 1-year high of $159.96. The firm has a market cap of $7.97 billion, a P/E ratio of 9.40 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.68 by $0.40. Chord Energy had a net margin of 13.40% and a return on equity of 12.54%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $2.35 earnings per share. Chord Energy’s revenue for the quarter was up 30.0% compared to the same quarter last year. Analysts anticipate that Chord Energy Corporation will post 23.86 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Thursday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is presently 32.60%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Chord Energy from $133.00 to $150.00 and gave the company a “hold” rating in a research report on Friday, September 18th. UBS Group raised their price objective on Chord Energy from $197.00 to $198.00 and gave the stock a “buy” rating in a research report on Tuesday, November 10th. Wall Street Zen cut Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Roth Capital reaffirmed a “buy” rating and set a $165.00 target price on shares of Chord Energy in a research note on Monday, October 19th. Finally, Seaport Research Partners assumed coverage on Chord Energy in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.69.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its operations are concentrated in the Williston Basin, primarily in North Dakota and Montana, where it develops resources in the Bakken and Three Forks formations. The company’s production includes crude oil, natural gas liquids and natural gas. Chord Energy was formed in 2022 through the combination of Oasis Petroleum and Whiting Petroleum, bringing together their Williston Basin operations.