Qsemble Capital Management LP Invests $782,000 in Chord Energy Co. (NASDAQ:CHRD)

Qsemble Capital Management LP acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 6,004 shares of the company’s stock, valued at approximately $782,000.

A number of other hedge funds have also modified their holdings of CHRD. Victory Capital Management Inc. boosted its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Pacer Advisors Inc. boosted its position in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after acquiring an additional 1,230,985 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Boston Partners boosted its position in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Chord Energy by 226.5% during the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHRD. UBS Group began coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price on the stock. Citigroup decreased their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Piper Sandler lifted their price target on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Stock Performance

Chord Energy stock opened at $128.01 on Wednesday. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 5.23 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm’s fifty day moving average price is $130.92 and its 200 day moving average price is $152.14.

Chord Energy (NASDAQ:CHRD) last released 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). 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $5.04 EPS. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, research analysts forecast that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

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.