Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Ninepoint Partners LP

Ninepoint Partners LP boosted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Chord Energy comprises approximately 1.8% of Ninepoint Partners LP’s investment portfolio, making the stock its 8th largest holding. Ninepoint Partners LP’s holdings in Chord Energy were worth $16,623,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new stake in Chord Energy in the 4th quarter worth about $28,000. Contravisory Investment Management Inc. lifted its position in Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. Viking Fund Management LLC raised its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Chord Energy in the fourth quarter worth $48,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Chord Energy in the fourth quarter worth $68,000. 97.76% of the stock is currently owned by institutional investors.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now owns 131,209 shares in the company, valued at approximately $20,225,867.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHRD. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and lowered their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. Stifel Nicolaus increased their target price on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler raised their price target on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Truist Financial dropped their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.40.

Chord Energy Trading Up 0.8 %

Chord Energy stock traded up $1.45 during mid-day trading on Friday, hitting $180.10. The company’s stock had a trading volume of 194,528 shares, compared to its average volume of 670,086. The firm has a market capitalization of $7.48 billion, a PE ratio of 7.59 and a beta of 1.06. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $190.23. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $170.08 and its two-hundred day moving average is $164.39.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. On average, analysts anticipate that Chord Energy Co. will post 21.71 EPS for the current year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.22%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 21.25%.

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.