Hodges Capital Management Inc. Increases Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Hodges Capital Management Inc. grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 45.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,450 shares of the company’s stock after purchasing an additional 15,036 shares during the quarter. Hodges Capital Management Inc. owned approximately 0.08% of Chord Energy worth $5,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Merit Financial Group LLC purchased a new position in Chord Energy during the fourth quarter valued at $553,000. Geode Capital Management LLC grew its holdings in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its position in Chord Energy by 3.5% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after buying an additional 3,151 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after buying an additional 9,613 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler decreased their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Bank of America reaffirmed a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Truist Financial upped their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Mizuho lowered their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $173.08.

Chord Energy Price Performance

Shares of CHRD stock opened at $112.45 on Monday. The company has a market capitalization of $6.87 billion, a P/E ratio of 5.79, a P/E/G ratio of 5.67 and a beta of 0.98. The company’s 50-day simple moving average is $120.01 and its two-hundred day simple moving average is $133.67. Chord Energy Co. has a one year low of $109.59 and a one year high of $190.23. 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 (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned $5.04 earnings per share. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. As a group, equities analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 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.