Interval Partners LP Buys New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Interval Partners LP bought a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 30,210 shares of the company's stock, valued at approximately $3,532,000.

A number of other large investors also recently made changes to their positions in CHRD. Pacer Advisors Inc. increased its holdings in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after purchasing an additional 619,021 shares during the period. FMR LLC increased its holdings in shares of Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at about $43,745,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Chord Energy in the 4th quarter valued at about $29,984,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now directly owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Performance

Chord Energy stock traded up $0.79 during trading hours on Friday, reaching $96.67. 617,469 shares of the company were exchanged, compared to its average volume of 984,699. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 4.98, a PEG ratio of 5.83 and a beta of 0.99. 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 stock has a 50-day moving average of $98.06 and a 200 day moving average of $111.56. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02.

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

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.38%. Chord Energy's dividend payout ratio is 34.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHRD shares. Mizuho dropped their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday. Bank of America upgraded Chord Energy from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $125.00 to $114.00 in a report on Tuesday, April 29th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.92.

Chord Energy Company 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.