CastleKnight Management LP Has $1.43 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

CastleKnight Management LP reduced its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 11.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,580 shares of the company’s stock after selling 1,100 shares during the quarter. CastleKnight Management LP’s holdings in Chord Energy were worth $1,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. Contravisory Investment Management Inc. grew its holdings in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares during the last quarter. Lindbrook Capital LLC grew its stake in Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after purchasing an additional 123 shares in the last quarter. Viking Fund Management LLC increased its position in shares of Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after purchasing an additional 197 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Piper Sandler upped their target price on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Truist Financial reduced their price target on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Royal Bank of Canada upped their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, BMO Capital Markets assumed coverage on Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.40.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $1.00 during mid-day trading on Friday, hitting $168.96. 1,617,470 shares of the stock were exchanged, compared to its average volume of 1,632,440. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The firm’s 50-day simple moving average is $180.31 and its 200 day simple moving average is $168.19. Chord Energy Co. has a fifty-two week low of $145.06 and a fifty-two week high of $190.23. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 7.93 and a beta of 1.05.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. During the same quarter in the previous year, the business posted $4.50 earnings per share. Chord Energy’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Chord Energy Co. will post 22.63 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a $2.94 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.96%. Chord Energy’s payout ratio is 23.46%.

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.