Edgestream Partners L.P. Buys 14,963 Shares of Chord Energy Co. (NASDAQ:CHRD)

Edgestream Partners L.P. increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 75.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,807 shares of the company’s stock after acquiring an additional 14,963 shares during the quarter. Edgestream Partners L.P.’s holdings in Chord Energy were worth $5,836,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CHRD. Dimensional Fund Advisors LP lifted its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the last quarter. First Trust Advisors LP boosted its stake in Chord Energy by 11.0% in the 4th 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 period. Boston Partners grew its holdings in Chord Energy by 107.0% in the 1st 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 in the last quarter. Finally, American Century Companies Inc. increased its position in Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after buying an additional 113,618 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 0.3 %

Shares of CHRD stock opened at $134.41 on Tuesday. 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 debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock’s fifty day moving average price is $155.48 and its two-hundred day moving average price is $167.94. The company has a market cap of $5.60 billion, a PE ratio of 6.31, a P/E/G ratio of 4.48 and a beta of 0.99.

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

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.72%. Chord Energy’s dividend payout ratio is presently 23.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup decreased their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Piper Sandler decreased their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research assumed coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. BMO Capital Markets initiated coverage on Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

About Chord Energy

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.