Infrastructure Capital Advisors LLC Invests $207,000 in Chord Energy Co. (NASDAQ:CHRD)

Infrastructure Capital Advisors LLC purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,593 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy during the 2nd quarter worth $4,426,000. Victory Capital Management Inc. grew its position in 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. Bank of Montreal Can grew its position in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after acquiring an additional 52,835 shares during the last quarter. Caxton Associates LP bought a new stake in Chord Energy during the 2nd quarter worth $2,515,000. Finally, DNB Asset Management AS bought a new stake in Chord Energy during the 2nd quarter worth $2,041,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 1.2 %

Shares of Chord Energy stock opened at $126.43 on Friday. Chord Energy Co. has a one year low of $123.30 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. The stock’s 50-day moving average is $130.35 and its 200 day moving average is $151.43. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 5.07 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last announced its earnings results 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 net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned $5.04 EPS. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup reduced their price objective 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. Truist Financial reduced their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Piper Sandler upped their price target on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company reduced their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two research 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 MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $188.45.

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.