Boston Partners Raises Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Boston Partners increased its position in Chord Energy Co. (NASDAQ:CHRD) by 107.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,305,942 shares of the company’s stock after acquiring an additional 674,965 shares during the period. Boston Partners owned approximately 3.13% of Chord Energy worth $232,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Chord Energy during the 1st quarter worth about $31,000. SRS Capital Advisors Inc. grew its position in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after purchasing an additional 221 shares during the period. Lindbrook Capital LLC grew its position in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after purchasing an additional 123 shares during the period. Quadrant Capital Group LLC grew its position 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 during the period. Finally, Principal Securities Inc. acquired a new stake in Chord Energy during the 4th quarter worth about $101,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Mizuho raised their target price on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Piper Sandler raised their target price on Chord Energy from $233.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Citigroup began coverage on Chord Energy in a research report on Monday, July 1st. They set a “buy” rating and a $195.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.78.

Chord Energy Price Performance

CHRD stock traded down $10.72 during trading on Friday, hitting $155.87. The stock had a trading volume of 864,228 shares, compared to its average volume of 649,722. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. Chord Energy Co. has a twelve month low of $148.32 and a twelve month high of $190.23. The stock has a market capitalization of $6.50 billion, a P/E ratio of 7.31, a PEG ratio of 0.92 and a beta of 1.01. The company’s 50-day moving average price is $171.17 and its two-hundred day moving average price is $170.17.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. During the same period in the previous year, the firm posted $4.50 EPS. Chord Energy’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts predict that Chord Energy Co. will post 20.85 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

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.