GAMMA Investing LLC Purchases 81,691 Shares of Chord Energy Co. (NASDAQ:CHRD)

GAMMA Investing LLC lifted its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 31,910.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,947 shares of the company's stock after buying an additional 81,691 shares during the quarter. GAMMA Investing LLC owned about 0.14% of Chord Energy worth $9,237,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CHRD. Tallon Kerry Patrick bought a new stake in shares of Chord Energy in the 4th quarter valued at approximately $204,000. Stratos Wealth Partners LTD. acquired a new stake in Chord Energy in the 4th quarter worth approximately $255,000. Kingsview Wealth Management LLC lifted its holdings in Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock worth $2,542,000 after purchasing an additional 7,743 shares during the last quarter. Entropy Technologies LP acquired a new stake in Chord Energy in the 4th quarter worth approximately $208,000. Finally, Portfolio Design Labs LLC lifted its holdings in Chord Energy by 32.6% in the 4th quarter. Portfolio Design Labs LLC now owns 29,175 shares of the company's stock worth $3,411,000 after purchasing an additional 7,165 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Insider Activity at Chord Energy

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Mizuho reduced their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Citigroup reduced their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Wells Fargo & Company cut their price target on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank of Canada cut their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $153.77.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $94.89 on Friday. The business has a fifty day simple moving average of $92.61 and a 200 day simple moving average of $107.71. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a one year low of $79.83 and a one year high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its 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 business had revenue of $1.22 billion during 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 was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.10 earnings per share. Sell-side analysts expect that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

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 is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.48%. Chord Energy's payout ratio is 34.78%.

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.

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