Invenomic Capital Management LP Raises Holdings in Chord Energy Co. (NASDAQ:CHRD)

Invenomic Capital Management LP raised its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 313,246 shares of the company's stock after acquiring an additional 49,906 shares during the quarter. Chord Energy makes up 1.7% of Invenomic Capital Management LP's portfolio, making the stock its 6th biggest holding. Invenomic Capital Management LP owned 0.51% of Chord Energy worth $36,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Chord Energy in the fourth quarter worth about $25,000. Brooklyn Investment Group bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the 4th quarter worth approximately $33,000. Larson Financial Group LLC increased its holdings in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Chord Energy during the 4th quarter worth approximately $51,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHRD shares. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Citigroup decreased their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Piper Sandler dropped their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Mizuho cut their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $153.92.

Chord Energy Price Performance

Chord Energy stock traded down $1.51 during mid-day trading on Wednesday, reaching $97.98. 645,705 shares of the company's stock traded hands, compared to its average volume of 983,211. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 5.05, a PEG ratio of 5.83 and a beta of 0.99. The stock has a 50 day moving average of $98.36 and a two-hundred day moving average of $112.07. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

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

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 34.78%.

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.