Kings Path Partners LLC Takes $117,000 Position in Chord Energy Co. (NASDAQ:CHRD)

Kings Path Partners LLC acquired a new position in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $117,000.

A number of other hedge funds have also recently added to or reduced their stakes in CHRD. Franklin Resources Inc. increased its position in Chord Energy by 72.5% during the third quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock worth $3,631,000 after buying an additional 11,527 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Chord Energy by 14.9% during the 3rd quarter. Synovus Financial Corp now owns 5,869 shares of the company’s stock valued at $764,000 after acquiring an additional 761 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Chord Energy by 21.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company’s stock valued at $691,000 after acquiring an additional 892 shares in the last quarter. TCW Group Inc. lifted its holdings in Chord Energy by 11.7% in the 3rd quarter. TCW Group Inc. now owns 33,540 shares of the company’s stock worth $4,368,000 after purchasing an additional 3,500 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in Chord Energy by 18.3% during the third quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company’s stock worth $212,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 2.0 %

NASDAQ:CHRD traded up $2.47 during trading hours on Monday, hitting $123.42. 422,685 shares of the stock were exchanged, compared to its average volume of 518,645. The company has a market capitalization of $7.54 billion, a P/E ratio of 6.36, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $122.86 and its two-hundred day moving average is $140.68. Chord Energy Co. has a twelve month low of $109.59 and a twelve month high of $190.23.

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

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy 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 completion of the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CHRD shares. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research note on Friday. Wells Fargo & Company increased their target price on Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Truist Financial decreased their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $180.25.

Chord Energy Company 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.