Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 374,142 shares of the company's stock, valued at approximately $43,745,000. Chord Energy comprises 1.7% of Encompass Capital Advisors LLC's investment portfolio, making the stock its 20th biggest position. Encompass Capital Advisors LLC owned approximately 0.61% of Chord Energy as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in CHRD. Barclays PLC lifted its stake in shares of Chord Energy by 3.7% during the 3rd quarter. Barclays PLC now owns 64,711 shares of the company's stock worth $8,427,000 after purchasing an additional 2,318 shares during the last quarter. Franklin Resources Inc. raised its stake in Chord Energy by 72.5% in the third quarter. Franklin Resources Inc. now owns 27,434 shares of the company's stock valued at $3,631,000 after buying an additional 11,527 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Chord Energy by 5.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company's stock valued at $657,000 after buying an additional 284 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in Chord Energy in the fourth quarter valued at about $204,000. Finally, Merit Financial Group LLC purchased a new stake in Chord Energy in the fourth quarter valued at about $553,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on CHRD. Royal Bank of Canada decreased their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Finally, Bank of America upgraded Chord Energy from a "neutral" rating to a "buy" rating and decreased their price target for the company from $125.00 to $114.00 in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.08.
Get Our Latest Stock Report on CHRD
Chord Energy Stock Performance
Shares of NASDAQ:CHRD traded down $0.59 during trading on Friday, hitting $93.04. The stock had a trading volume of 977,188 shares, compared to its average volume of 983,182. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 4.79, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The stock has a 50-day simple moving average of $98.60 and a two-hundred day simple moving average of $112.48. 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 posted its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping 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 period last year, the company earned $5.10 earnings per share. On average, equities research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.
Chord Energy Announces Dividend
The business also recently announced 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. This represents a $5.20 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 34.78%.
Chord Energy Company Profile
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Free Report)
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.
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