Kings Path Partners LLC Makes New $117,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 valued at $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Chord Energy during the third quarter valued at $26,000. UMB Bank n.a. raised its stake 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 valued at $30,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the second quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in 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 buying an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Trading Up 2.0 %

Shares of CHRD traded up $2.47 during midday trading on Monday, hitting $123.42. The stock had a trading volume of 422,685 shares, compared to its average volume of 518,645. The business has a 50-day simple moving average of $122.86 and a two-hundred day simple moving average of $140.68. The firm has a market cap 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 current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a fifty-two week low of $109.59 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $5.04 EPS. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

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

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts have commented on CHRD shares. UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. BMO Capital Markets cut their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research 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 target on the stock in a research report on Friday. Royal Bank of Canada cut their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $180.25.

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.