FORA Capital LLC Has $508,000 Stake in Chord Energy Corporation $CHRD

Key Points

• FORA Capital LLC has significantly reduced its stake in Chord Energy Corporation by 76.2% during the first quarter, now holding just 4,509 shares valued at approximately $508,000.
• Chord Energy recently reported earnings of $1.79 EPS, missing analyst estimates, but achieved revenue of $1.18 billion, exceeding expectations.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized yield of 4.7%, with a high dividend payout ratio of 132.32%.

FORA Capital LLC decreased its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 76.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,509 shares of the company's stock after selling 14,449 shares during the period. FORA Capital LLC's holdings in Chord Energy were worth $508,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CHRD. Encompass Capital Advisors LLC bought a new stake in Chord Energy in the fourth quarter worth about $43,745,000. Nuveen LLC bought a new stake in Chord Energy in the first quarter worth about $36,837,000. Squarepoint Ops LLC raised its position in Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock worth $39,435,000 after acquiring an additional 264,828 shares during the period. Sourcerock Group LLC raised its position in Chord Energy by 214.9% in the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock worth $36,815,000 after acquiring an additional 214,870 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in Chord Energy in the fourth quarter worth about $21,097,000. Institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CHRD shares. UBS Group increased their target price on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Citigroup increased their target price on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company increased their target price on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Piper Sandler increased their target price on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $148.92.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares of the company's stock, valued at $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Up 1.0%

CHRD stock traded up $1.15 during mid-day trading on Tuesday, hitting $111.04. 298,245 shares of the company were exchanged, compared to its average volume of 832,972. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a market cap of $6.36 billion, a P/E ratio of 28.21 and a beta of 0.97. The firm's 50 day simple moving average is $105.00 and its 200 day simple moving average is $101.51. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $146.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. During the same quarter last year, the business posted $4.69 earnings per share. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. Chord Energy's payout ratio is 132.32%.

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.