GAMMA Investing LLC Has $9.24 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

GAMMA Investing LLC increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 31,910.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 81,947 shares of the company's stock after acquiring an additional 81,691 shares during the period. GAMMA Investing LLC owned approximately 0.14% of Chord Energy worth $9,237,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at approximately $1,191,000. JPMorgan Chase & Co. grew its stake in Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after buying an additional 8,455 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Chord Energy by 55.3% in the fourth 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 period. M&T Bank Corp acquired a new stake in Chord Energy in the fourth quarter worth about $1,004,000. Finally, Raymond James Financial Inc. acquired a new stake in Chord Energy in the fourth quarter worth about $29,984,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

CHRD stock traded up $2.13 during midday trading on Wednesday, hitting $101.68. The stock had a trading volume of 799,709 shares, compared to its average volume of 897,798. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $181.17. The stock has a 50-day simple moving average of $92.56 and a 200 day simple moving average of $107.18. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 12.88% and a net margin of 19.74%. The business's revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $5.10 earnings per share. As a group, equities research analysts anticipate that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.11%. Chord Energy's payout ratio is presently 34.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CHRD. Citigroup cut their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Williams Trading set a $155.00 target price on Chord Energy in a report on Wednesday, March 5th. Piper Sandler dropped their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $153.77.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% 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. 0.70% of the stock is currently owned by corporate insiders.

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.