CastleKnight Management LP Sells 3,200 Shares of Chord Energy Co. (NASDAQ:CHRD)

CastleKnight Management LP reduced its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,380 shares of the company's stock after selling 3,200 shares during the quarter. CastleKnight Management LP's holdings in Chord Energy were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Delta Capital Management LLC boosted its stake in Chord Energy by 4.3% in the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after purchasing an additional 90 shares during the period. Gables Capital Management Inc. boosted its position in shares of Chord Energy by 6.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after acquiring an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after acquiring an additional 106 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares during the period. Finally, MGO One Seven LLC lifted its stake in Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after purchasing an additional 111 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of recent analyst reports. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Bank of America raised shares of Chord Energy from a "neutral" rating to a "buy" rating and lowered their target price for the company from $125.00 to $114.00 in a research note on Tuesday, April 29th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.08.

Chord Energy Trading Down 0.6 %

NASDAQ CHRD traded down $0.59 during trading on Friday, hitting $93.04. 977,188 shares of the company's stock traded hands, compared to its average volume of 981,154. The firm has a market cap of $5.53 billion, a P/E ratio of 4.79, a PEG ratio of 5.83 and a beta of 0.99. The stock has a fifty day moving average of $98.60 and a two-hundred day moving average of $112.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02.

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

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.59%. Chord Energy's dividend payout ratio is currently 32.62%.

Chord Energy 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.