Edgestream Partners L.P. Has $5.84 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Edgestream Partners L.P. grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 75.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,807 shares of the company’s stock after acquiring an additional 14,963 shares during the quarter. Edgestream Partners L.P. owned 0.08% of Chord Energy worth $5,836,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in Chord Energy during the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy during the second quarter worth about $40,000. GAMMA Investing LLC lifted its holdings in shares of Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after purchasing an additional 191 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Chord Energy in the 2nd quarter valued at approximately $60,000. Finally, Quadrant Capital Group LLC increased its stake in Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after purchasing an additional 197 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.3 %

NASDAQ:CHRD opened at $134.41 on Tuesday. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a twelve month low of $129.75 and a twelve month high of $190.23. The stock’s 50 day moving average price is $155.48 and its two-hundred day moving average price is $167.94.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.65 earnings per share. Equities research analysts expect that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.72%. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CHRD shares. Citigroup cut their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. BMO Capital Markets began coverage on shares of Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price for the company. Wolfe Research began coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial cut their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Piper Sandler decreased their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

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.