Hodges Capital Management Inc. Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Hodges Capital Management Inc. raised its position in Chord Energy Co. (NASDAQ:CHRD) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,450 shares of the company’s stock after acquiring an additional 15,036 shares during the period. Hodges Capital Management Inc.’s holdings in Chord Energy were worth $5,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after acquiring an additional 519,547 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Chord Energy by 721.9% during the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company’s stock worth $18,986,000 after acquiring an additional 128,047 shares during the last quarter. Finally, Point72 Europe London LLP increased its holdings in shares of Chord Energy by 270.3% during the third quarter. Point72 Europe London LLP now owns 138,295 shares of the company’s stock valued at $18,010,000 after acquiring an additional 100,951 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Down 2.8 %

CHRD opened at $112.45 on Monday. The company has a fifty day moving average of $120.01 and a two-hundred day moving average of $133.67. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 5.67 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.04 EPS. On average, research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.45%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CHRD has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Mizuho reduced their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Piper Sandler reduced their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $173.08.

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.