Quarry LP Buys 770 Shares of Chord Energy Co. (NASDAQ:CHRD)

Quarry LP boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 437.5% during the third quarter, Holdings Channel reports. The firm owned 946 shares of the company’s stock after purchasing an additional 770 shares during the quarter. Quarry LP’s holdings in Chord Energy were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. Stone House Investment Management LLC bought a new position in Chord Energy in the third quarter valued at about $26,000. UMB Bank n.a. boosted its position in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the last quarter. Spartan Fund Management Inc. bought a new stake in shares of Chord Energy during the 3rd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CHRD shares. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada cut their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Truist Financial decreased their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Citigroup lowered their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Trading Down 3.7 %

CHRD stock opened at $117.20 on Friday. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 4.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $115.96 and a 1-year high of $190.23. The business has a 50 day simple moving average of $129.22 and a two-hundred day simple moving average of $149.04.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.04 EPS. Research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.27%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

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.