32,924 Shares in Chord Energy Corporation $CHRD Purchased by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC made a new investment of $3.71 million in Chord Energy Corporation, acquiring approximately 32,924 shares during the first quarter.
• Chord Energy recently announced a quarterly dividend of $1.30 per share, which translates to an annualized dividend yield of 5.1%, although their payout ratio is notably high at 132.32%.
• Despite a decrease in earnings per share compared to the previous year, Chord Energy's revenue for the last quarter rose by 5.3% year-over-year, totaling $1.18 billion.

Kovitz Investment Group Partners LLC acquired a new position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,924 shares of the company's stock, valued at approximately $3,711,000. Kovitz Investment Group Partners LLC owned 0.06% of Chord Energy at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CHRD. Encompass Capital Advisors LLC purchased a new stake in Chord Energy in the fourth quarter worth about $43,745,000. Nuveen LLC purchased a new stake in shares of Chord Energy during the first quarter valued at about $36,837,000. Squarepoint Ops LLC lifted its position in shares of Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after buying an additional 264,828 shares during the last quarter. Sourcerock Group LLC lifted its position in shares of Chord Energy by 214.9% during the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after buying an additional 214,870 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Chord Energy during the fourth quarter valued at about $23,136,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $3.93 during midday trading on Friday, hitting $105.93. The company's stock had a trading volume of 660,381 shares, compared to its average volume of 795,202. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $154.75. The firm's 50 day moving average is $104.50 and its 200-day moving average is $101.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market cap of $6.07 billion, a P/E ratio of 26.95 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same quarter last year, the company posted $4.69 EPS. Chord Energy's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. Chord Energy's dividend payout ratio (DPR) is 132.32%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CHRD shares. UBS Group increased their price target on shares of Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America decreased their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Piper Sandler increased their price target on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their price target on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Finally, Mizuho cut their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average target price of $148.92.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.64, for a total transaction of $101,640.00. Following the transaction, the executive vice president owned 17,669 shares in the company, valued at $1,795,877.16. This trade represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company 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.