Squarepoint Ops LLC Has $39.44 Million Stake in Chord Energy Co. (NASDAQ:CHRD)

Squarepoint Ops LLC raised its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 365.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 337,284 shares of the company's stock after buying an additional 264,828 shares during the period. Squarepoint Ops LLC owned about 0.55% of Chord Energy worth $39,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CHRD. Two Sigma Advisers LP bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $803,000. Tidal Investments LLC bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $312,000. Thomist Capital Management LP bought a new position in Chord Energy in the fourth quarter valued at approximately $18,446,000. Scissortail Wealth Management LLC bought a new position in Chord Energy in the fourth quarter valued at approximately $369,000. Finally, SIR Capital Management L.P. boosted its stake in Chord Energy by 3.7% in the fourth quarter. SIR Capital Management L.P. now owns 169,785 shares of the company's stock valued at $19,851,000 after acquiring an additional 6,005 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Trading Down 1.7%

Shares of NASDAQ CHRD opened at $95.03 on Tuesday. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company's fifty day moving average is $97.84 and its 200-day moving average is $111.26. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $5.10 earnings per share. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts predict that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.47%. Chord Energy's payout ratio is 34.78%.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction 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 trade 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHRD shares. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Citigroup reduced their price objective on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Finally, Bank of America raised shares of Chord Energy from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $125.00 to $114.00 in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $153.92.

About Chord Energy

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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