Spartan Fund Management Inc. Buys Shares of 264 Chord Energy Co. (NASDAQ:CHRD)

Spartan Fund Management Inc. acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 264 shares of the company’s stock, valued at approximately $34,000.

Several other large investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its stake in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. UMB Bank n.a. increased its position 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 purchasing an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the 2nd quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Chord Energy by 125.9% in the 2nd 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 during the period. Finally, GAMMA Investing LLC grew its stake in Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHRD. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Wolfe Research assumed coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial lowered their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Citigroup lowered their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Up 0.2 %

Shares of CHRD traded up $0.22 during mid-day trading on Tuesday, reaching $130.16. 354,310 shares of the stock traded hands, compared to its average volume of 881,445. Chord Energy Co. has a 12-month low of $126.38 and a 12-month high of $190.23. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 5.06 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $138.55 and a 200 day simple moving average of $161.47.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million during 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%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.65 EPS. Sell-side analysts expect 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. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

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.