Kingstone Capital Partners Texas LLC Takes Position in Chord Energy Corporation $CHRD

Key Points

• Kingstone Capital Partners Texas LLC acquired 37,020 shares of Chord Energy Corporation for approximately $3.585 million, representing about 0.06% ownership of the company, according to their recent SEC filing.
• Chord Energy announced a quarterly dividend of $1.30, yielding 5.2%, while the company's dividend payout ratio stands at 132.32%.
• Analysts have varied opinions on Chord Energy, with ratings ranging from "Strong Buy" to "Sell," and a consensus target price of $147.15 following recent adjustments by firms like Mizuho and UBS Group.

Kingstone Capital Partners Texas LLC purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 37,020 shares of the company's stock, valued at approximately $3,585,000. Kingstone Capital Partners Texas LLC owned about 0.06% of Chord Energy as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Chord Energy by 3.7% during the first quarter. American Century Companies Inc. now owns 1,157,870 shares of the company's stock worth $130,515,000 after buying an additional 41,797 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Chord Energy by 6.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after purchasing an additional 47,649 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Chord Energy by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock valued at $83,675,000 after purchasing an additional 53,927 shares during the period. Palo Duro Investment Partners LP boosted its position in shares of Chord Energy by 3.1% during the 1st quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company's stock valued at $77,742,000 after purchasing an additional 20,940 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in Chord Energy by 9.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company's stock valued at $69,744,000 after buying an additional 52,375 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Down 0.1%

Shares of Chord Energy stock traded down $0.11 on Monday, hitting $100.26. The company had a trading volume of 776,484 shares, compared to its average volume of 893,490. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $140.15. 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 stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 7.89 and a beta of 0.97. The stock has a 50 day moving average of $105.46 and a 200-day moving average of $100.99.

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

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, August 21st. Chord Energy's payout ratio is 132.32%.

Analyst Ratings Changes

Several research firms recently weighed in on CHRD. Scotiabank assumed coverage on Chord Energy in a report on Friday. They issued a "sector perform" rating and a $120.00 target price for the company. Bank of America boosted their target price on Chord Energy from $112.00 to $123.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Wells Fargo & Company boosted their price target on Chord Energy from $146.00 to $149.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, Piper Sandler increased their price target on shares of Chord Energy from $166.00 to $169.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.15.

Insider Buying and Selling

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