26,398 Shares in Chord Energy Co. (NASDAQ:CHRD) Bought by Kraematon Investment Advisors Inc.

Kraematon Investment Advisors Inc. bought a new stake in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,398 shares of the company’s stock, valued at approximately $4,426,000. Chord Energy makes up approximately 4.5% of Kraematon Investment Advisors Inc.’s investment portfolio, making the stock its 3rd biggest holding. Kraematon Investment Advisors Inc. owned approximately 0.06% of Chord Energy at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after buying an additional 138,957 shares during the last quarter. Boston Partners boosted its holdings in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Chord Energy by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock worth $111,468,000 after buying an additional 21,399 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Chord Energy by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 532,144 shares of the company’s stock valued at $94,849,000 after buying an additional 40,407 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Chord Energy by 40.5% in the first quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock worth $93,525,000 after buying an additional 151,218 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

CHRD stock traded up $0.10 during midday trading on Friday, hitting $151.16. The stock had a trading volume of 922,432 shares, compared to its average volume of 912,963. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 0.92 and a beta of 1.01. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $168.20 and a 200 day simple moving average of $170.44. Chord Energy Co. has a 52 week low of $145.53 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the business earned $3.65 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts anticipate that Chord Energy Co. will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.31%. Chord Energy’s dividend payout ratio is currently 23.46%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho upped their target price on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Wolfe Research initiated coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Bank of America restated a “buy” rating and set a $201.00 target price on shares of Chord Energy in a research note on Friday, June 14th. Finally, Truist Financial cut their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.78.

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.