45,000 Shares in Chord Energy Corporation $CHRD Acquired by Ninepoint Partners LP

Key Points

• Ninepoint Partners acquired 45,000 Chord Energy shares during the second quarter, valued at approximately $5.14 million. Institutional investors collectively own 97.76% of the company.
• Chord Energy reported quarterly revenue of $2.17 billion, up 128.6% year over year, although earnings per share of $6.44 fell slightly short of estimates. The company declared a quarterly dividend of $1.30 per share, representing a 3.5% yield.
• CHRD shares opened at $148.81, near their 52-week high, while analyst sentiment remained “Moderate Buy” with an average price target of $152.54. Recent insider activity was negative, with directors selling a combined 10,200 shares.

Ninepoint Partners LP acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 45,000 shares of the company's stock, valued at approximately $5,144,000. Ninepoint Partners LP owned 0.08% of Chord Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. grew its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company's stock worth $27,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Chord Energy during the first quarter valued at approximately $29,000. Root Financial Partners LLC increased its holdings in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company's stock valued at $33,000 after buying an additional 150 shares during the period. Versant Capital Management Inc increased its holdings in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company's stock valued at $27,000 after buying an additional 182 shares during the period. Finally, WealthCollab LLC raised its stake in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Up 0.7%

NASDAQ:CHRD opened at $148.81 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company's fifty day moving average price is $128.73 and its 200-day moving average price is $128.39. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $153.00. The firm has a market capitalization of $8.14 billion, a P/E ratio of 9.97 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The firm's revenue was up 128.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.79 earnings per share. As a group, equities research analysts anticipate that Chord Energy Corporation will post 18.03 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, August 20th. Chord Energy's payout ratio is 34.85%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Mckinney sold 2,200 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $136.32, for a total transaction of $299,904.00. Following the completion of the sale, the director directly owned 17,030 shares in the company, valued at approximately $2,321,529.60. The trade was a 11.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares of the company's stock, valued at $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,219 shares of company stock valued at $1,927,684 over the last quarter. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research cut Chord Energy from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Chord Energy from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Roth Capital reissued a "buy" rating and set a $145.00 price target on shares of Chord Energy in a research report on Wednesday, July 15th. Citigroup lowered their price target on shares of Chord Energy from $155.00 to $130.00 and set a "neutral" rating on the stock in a report on Friday, July 10th. Finally, Wall Street Zen lowered shares of Chord Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and an average target price of $152.54.

Chord Energy Profile

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source