Kraematon Investment Advisors Inc. Invests $4.43 Million in Chord Energy Co. (NASDAQ:CHRD)

Kraematon Investment Advisors Inc. acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 26,398 shares of the company’s stock, valued at approximately $4,426,000. Chord Energy makes up 4.5% of Kraematon Investment Advisors Inc.’s portfolio, making the stock its 3rd biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP raised its position in Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the last quarter. Boston Partners increased its stake in shares of Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the period. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after buying an additional 21,399 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Chord Energy by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 532,144 shares of the company’s stock worth $94,849,000 after buying an additional 40,407 shares during the period. Finally, Jennison Associates LLC increased its position in Chord Energy by 40.5% in the 1st quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock valued at $93,525,000 after acquiring an additional 151,218 shares during the period. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHRD. Truist Financial decreased their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Bank of America reaffirmed a “buy” rating and issued a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Mizuho upped their target price on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Citigroup initiated coverage on shares of Chord Energy in a research report on Monday, July 1st. They issued a “buy” rating and a $195.00 price target for the company. Finally, Piper Sandler upped their price objective on shares of Chord Energy from $233.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.78.

Chord Energy Stock Up 0.1 %

Shares of CHRD stock traded up $0.10 on Friday, hitting $151.16. The stock had a trading volume of 922,432 shares, compared to its average volume of 912,963. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The business has a 50 day moving average of $168.20 and a 200 day moving average of $170.44. Chord Energy Co. has a 12-month low of $145.53 and a 12-month high of $190.23. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter last year, the business posted $3.65 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts expect that Chord Energy Co. will post 20.85 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a $1.25 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.31%. Chord Energy’s dividend payout ratio is currently 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.