SIR Capital Management L.P. Boosts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

SIR Capital Management L.P. lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,785 shares of the company's stock after purchasing an additional 6,005 shares during the period. Chord Energy accounts for about 2.1% of SIR Capital Management L.P.'s portfolio, making the stock its 13th largest holding. SIR Capital Management L.P. owned approximately 0.28% of Chord Energy worth $19,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Rafferty Asset Management LLC raised its position in shares of Chord Energy by 23.0% during the 4th quarter. Rafferty Asset Management LLC now owns 55,511 shares of the company's stock valued at $6,490,000 after buying an additional 10,395 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Chord Energy by 105.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,852 shares of the company's stock valued at $1,620,000 after buying an additional 7,126 shares during the period. Point72 Hong Kong Ltd raised its position in shares of Chord Energy by 36.7% during the 4th quarter. Point72 Hong Kong Ltd now owns 20,582 shares of the company's stock valued at $2,406,000 after buying an additional 5,522 shares during the period. ProShare Advisors LLC raised its position in shares of Chord Energy by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after buying an additional 163 shares during the period. Finally, Palo Duro Investment Partners LP raised its position in shares of Chord Energy by 13.6% during the 4th quarter. Palo Duro Investment Partners LP now owns 668,750 shares of the company's stock valued at $78,190,000 after buying an additional 80,063 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho reduced their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler reduced their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Bank of America raised Chord Energy from a "neutral" rating to a "buy" rating and cut their target price for the company from $125.00 to $114.00 in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $153.92.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Down 1.7%

NASDAQ:CHRD traded down $1.64 during trading hours on Monday, hitting $95.03. The company's stock had a trading volume of 554,050 shares, compared to its average volume of 982,979. The stock has a market capitalization of $5.49 billion, a P/E ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The stock has a fifty day moving average of $97.84 and a 200-day moving average of $111.26. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.10 earnings per share. On average, equities analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.47%. Chord Energy's dividend payout ratio is presently 34.78%.

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.