264 Shares in Chord Energy Co. (NASDAQ:CHRD) Acquired by Spartan Fund Management Inc.

Spartan Fund Management Inc. acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) during the third quarter, Holdings Channel.com reports. The fund acquired 264 shares of the company’s stock, valued at approximately $34,000.

Other large investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew 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 acquiring an additional 162 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy during the second quarter valued at $40,000. Benjamin F. Edwards & Company Inc. grew its stake in Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

CHRD stock traded up $0.22 on Tuesday, reaching $130.16. 354,310 shares of the company were exchanged, compared to its average volume of 881,445. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy Co. has a 12 month low of $126.38 and a 12 month high of $190.23. The stock’s fifty day moving average price is $138.55 and its 200 day moving average price is $161.47. The firm has a market capitalization of $5.43 billion, a PE ratio of 6.14, a PEG ratio of 5.06 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the business posted $3.65 EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts anticipate that Chord Energy Co. will post 17.32 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is 23.46%.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHRD. Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. UBS Group started coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, BMO Capital Markets cut their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $190.18.

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.