Martingale Asset Management L P Takes Position in Chord Energy Corporation $CHRD

Martingale Asset Management L P acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,573 shares of the company’s stock, valued at approximately $4,123,000. Martingale Asset Management L P owned about 0.06% of Chord Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after purchasing an additional 529 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock worth $79,000 after purchasing an additional 462 shares during the last quarter. GAMMA Investing LLC boosted its position in Chord Energy by 184.0% during the 1st quarter. GAMMA Investing LLC now owns 727 shares of the company’s stock valued at $82,000 after purchasing an additional 471 shares during the period. Finally, UMB Bank n.a. acquired a new position in Chord Energy during the 1st quarter valued at approximately $91,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Down 0.6%

Chord Energy stock opened at $102.00 on Friday. The company’s 50-day moving average price is $104.50 and its two-hundred day moving average price is $101.78. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 25.95 and a beta of 0.97. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $154.75. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same quarter last year, the business earned $4.69 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $101.64, for a total value of $101,640.00. Following the completion of the sale, the executive vice president owned 17,669 shares in the company, valued at $1,795,877.16. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHRD. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Wells Fargo & Company lifted their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. Bank of America reduced their target price on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. UBS Group raised their price target on shares of Chord Energy from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler boosted their price objective on Chord Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.92.

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.