Thomist Capital Management LP Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Thomist Capital Management LP bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 161,300 shares of the company's stock, valued at approximately $18,446,000. Chord Energy comprises 4.5% of Thomist Capital Management LP's portfolio, making the stock its 8th biggest holding. Thomist Capital Management LP owned approximately 0.26% of Chord Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHRD. Altshuler Shaham Ltd acquired a new stake in shares of Chord Energy during the fourth quarter worth $25,000. Brooklyn Investment Group purchased a new position in Chord Energy during the fourth quarter worth about $29,000. Twin Tree Management LP acquired a new stake in Chord Energy in the 4th quarter worth about $33,000. Larson Financial Group LLC boosted its stake in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after buying an additional 224 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Chord Energy in the 4th quarter valued at about $51,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHRD. Citigroup decreased their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Mizuho decreased their price target 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. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Royal Bank of Canada cut their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Bank of America raised Chord Energy from a "neutral" rating to a "buy" rating and lowered their price target for the company from $125.00 to $114.00 in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.92.

Chord Energy Stock Down 4.3%

Shares of CHRD traded down $4.09 during midday trading on Wednesday, reaching $90.54. 739,727 shares of the company were exchanged, compared to its average volume of 982,854. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02. The stock has a 50-day moving average price of $97.36 and a 200-day moving average price of $111.00. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 4.66, a P/E/G ratio of 5.83 and a beta of 0.99.

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

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.74%. Chord Energy's payout ratio is currently 34.78%.

Insider Activity

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company's stock.

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.