FORA Capital LLC Acquires New Shares in Chord Energy Co. (NASDAQ:CHRD)

FORA Capital LLC acquired a new position in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,958 shares of the company’s stock, valued at approximately $2,217,000.

Several other large investors have also made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy during the fourth quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in Chord Energy in the 4th quarter valued at $29,000. Twin Tree Management LP acquired a new stake in Chord Energy in the 4th quarter worth $33,000. Larson Financial Group LLC increased its holdings in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after purchasing an additional 224 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Chord Energy during the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $125.00 to $114.00 in a research note on Tuesday, April 29th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Finally, Truist Financial raised their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.08.

Chord Energy Stock Up 3.9 %

Chord Energy stock opened at $93.63 on Friday. The company’s 50 day simple moving average is $98.83 and its 200 day simple moving average is $112.95. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.10 earnings per share. As a group, sell-side analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

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.