Interval Partners LP Acquires Shares of 30,210 Chord Energy Co. (NASDAQ:CHRD)

Interval Partners LP acquired a new position in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,210 shares of the company’s stock, valued at approximately $3,532,000.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after purchasing an additional 619,021 shares during the last quarter. Boston Partners increased its position in shares of Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after purchasing an additional 115,215 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after purchasing an additional 627,122 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Chord Energy by 15.0% during the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock valued at $130,491,000 after purchasing an additional 145,627 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $93.04 on Monday. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 4.79, a P/E/G ratio of 5.83 and a beta of 0.99. The stock has a fifty day simple moving average of $98.60 and a two-hundred day simple moving average of $112.48. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $5.10 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts predict that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio is 34.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Piper Sandler cut their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Bank of America upgraded Chord Energy from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $125.00 to $114.00 in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.08.

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.