Palo Duro Investment Partners LP Purchases 20,940 Shares of Chord Energy Corporation $CHRD

Key Points

• Palo Duro Investment Partners LP increased its stake in Chord Energy Corporation by 3.1%, now owning 689,690 shares valued at approximately $77.74 million.
• Chord Energy recently declared a quarterly dividend of $1.30 per share, yielding 5.0%, with a dividend payout ratio of 132.32%.
• The stock has received mixed ratings: UBS and Piper Sandler upgraded their price targets and ratings, while Wall Street Zen downgraded the stock from "hold" to "sell."

Palo Duro Investment Partners LP lifted its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 689,690 shares of the company's stock after purchasing an additional 20,940 shares during the quarter. Chord Energy comprises approximately 23.5% of Palo Duro Investment Partners LP's holdings, making the stock its 3rd largest holding. Palo Duro Investment Partners LP owned approximately 1.19% of Chord Energy worth $77,742,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its stake in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after acquiring an additional 529 shares in the last quarter. Fifth Third Bancorp boosted its position in Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after purchasing an additional 462 shares during the period. GAMMA Investing LLC increased its holdings in Chord Energy by 184.0% in the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company's stock valued at $82,000 after purchasing an additional 471 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in Chord Energy in the first quarter valued at about $91,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Down 1.6%

Shares of CHRD traded down $1.68 during trading on Thursday, reaching $104.87. The company's stock had a trading volume of 813,835 shares, compared to its average volume of 842,648. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 26.68 and a beta of 0.97. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $105.92 and a two-hundred day moving average of $101.33. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $140.15.

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 (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%.The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.69 EPS. 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 announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. Chord Energy's payout ratio is presently 132.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America lowered their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. UBS Group increased their price objective on shares of Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Citigroup boosted 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. Finally, Wells Fargo & Company upped their target price on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

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.