Ninepoint Partners LP Acquires Shares of 45,000 Chord Energy Corporation $CHRD

Ninepoint Partners LP purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD) during the second quarter, HoldingsChannel.com reports. The fund purchased 45,000 shares of the company’s stock, valued at approximately $5,144,000.

A number of other institutional investors also recently bought and sold shares of CHRD. Foster & Motley Inc. purchased a new position in shares of Chord Energy in the 2nd quarter valued at $695,000. Bank of New York Mellon Corp purchased a new stake in Chord Energy in the second quarter valued at $66,489,000. Assenagon Asset Management S.A. acquired a new position in Chord Energy in the second quarter valued at $24,670,000. GAMMA Investing LLC boosted its stake in Chord Energy by 14.4% in the second quarter. GAMMA Investing LLC now owns 1,618 shares of the company’s stock valued at $185,000 after acquiring an additional 204 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Roth Capital reaffirmed a “buy” rating and set a $145.00 price target on shares of Chord Energy in a research report on Wednesday, July 15th. Wells Fargo & Company lowered their target price on shares of Chord Energy from $175.00 to $163.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen cut shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Zacks Research downgraded shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.54.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Mckinney sold 2,200 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $136.32, for a total transaction of $299,904.00. Following the transaction, the director owned 17,030 shares of the company’s stock, valued at $2,321,529.60. This represents a 11.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the transaction, the director owned 10,705 shares in the company, valued at $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,219 shares of company stock valued at $1,927,684 over the last three months. 0.79% of the stock is currently owned by insiders.

Chord Energy Stock Up 0.7%

CHRD opened at $148.81 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The business has a 50 day simple moving average of $128.73 and a 200-day simple moving average of $128.39. The stock has a market capitalization of $8.14 billion, a P/E ratio of 9.97 and a beta of 0.48. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $153.00.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The firm’s quarterly revenue was up 128.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 EPS. On average, equities analysts anticipate that Chord Energy Corporation will post 18.03 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Thursday, August 20th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 20th. Chord Energy’s payout ratio is 34.85%.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.