Chord Energy Co. (NASDAQ:CHRD) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 168.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,116 shares of the company’s stock after purchasing an additional 175,798 shares during the period. Renaissance Technologies LLC owned approximately 0.67% of Chord Energy worth $46,970,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kraematon Investment Advisors Inc. acquired a new stake in Chord Energy in the second quarter valued at $4,426,000. Capital Fund Management S.A. boosted its holdings in Chord Energy by 252.9% during the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after buying an additional 31,484 shares in the last quarter. Sei Investments Co. boosted its holdings in Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares in the last quarter. Quantbot Technologies LP purchased a new position in Chord Energy in the first quarter valued at about $884,000. Finally, BOKF NA lifted its position in shares of Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after acquiring an additional 14,601 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler lowered their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research note on Thursday, September 5th. Wolfe Research began coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial dropped their target price on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Citigroup reduced their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Trading Up 1.9 %

Shares of CHRD opened at $136.93 on Wednesday. Chord Energy Co. has a fifty-two week low of $129.75 and a fifty-two week high of $190.23. The company has a market capitalization of $5.71 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The stock has a fifty day moving average of $154.86 and a two-hundred day moving average of $167.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.65 earnings per share. As a group, analysts forecast that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.65%. Chord Energy’s dividend payout ratio is presently 23.46%.

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.