VAUGHAN & Co SECURITIES INC. Reduces Holdings in Chord Energy Co. (NASDAQ:CHRD)

VAUGHAN & Co SECURITIES INC. decreased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 45.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,093 shares of the company’s stock after selling 1,738 shares during the period. VAUGHAN & Co SECURITIES INC.’s holdings in Chord Energy were worth $351,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Chord Energy during the first quarter worth about $31,000. SRS Capital Advisors Inc. lifted its holdings in Chord Energy by 306.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares during the period. GAMMA Investing LLC lifted its holdings in Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after acquiring an additional 191 shares during the period. Atlas Capital Advisors LLC acquired a new position in Chord Energy in the second quarter valued at approximately $60,000. Finally, Quadrant Capital Group LLC lifted its holdings in Chord Energy by 94.3% in the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Mizuho boosted their price target on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. 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 report on Monday, July 22nd. Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.78.

Chord Energy Price Performance

Shares of CHRD traded down $0.66 during trading hours on Friday, hitting $148.43. 947,609 shares of the stock were exchanged, compared to its average volume of 891,392. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy Co. has a 12-month low of $145.35 and a 12-month high of $190.23. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The stock’s 50-day moving average price is $162.79 and its two-hundred day moving average price is $169.80.

Chord Energy (NASDAQ:CHRD) last issued its 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). The company had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.65 earnings per share. Research analysts expect that Chord Energy Co. will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s 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.