Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Palo Duro Investment Partners LP

Palo Duro Investment Partners LP boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 668,750 shares of the company's stock after acquiring an additional 80,063 shares during the quarter. Chord Energy makes up approximately 22.9% of Palo Duro Investment Partners LP's holdings, making the stock its 3rd biggest holding. Palo Duro Investment Partners LP owned about 1.09% of Chord Energy worth $78,190,000 as of its most recent SEC filing.

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

Insider Activity at Chord Energy

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

Chord Energy Stock Up 0.8%

CHRD stock traded up $0.79 during mid-day trading on Friday, hitting $96.67. 617,469 shares of the company were exchanged, compared to its average volume of 983,930. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $5.58 billion, a P/E ratio of 4.98, a P/E/G ratio of 5.83 and a beta of 0.99. The firm's 50 day simple moving average is $98.06 and its 200 day simple moving average is $111.56. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02.

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

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors 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 dividend yield of 5.38%. Chord Energy's dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

A number of research analysts have issued reports on CHRD shares. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their target price on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler cut their target price 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. Citigroup cut their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Royal Bank of Canada cut their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and a consensus price target of $153.92.

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.