Gables Capital Management Inc. Reduces Stake in Chord Energy Corporation $CHRD

Gables Capital Management Inc. lowered its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 12.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,350 shares of the company’s stock after selling 200 shares during the period. Gables Capital Management Inc.’s holdings in Chord Energy were worth $131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CHRD. Bayforest Capital Ltd purchased a new stake in shares of Chord Energy in the 2nd quarter valued at about $28,000. Hexagon Capital Partners LLC raised its holdings in shares of Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after acquiring an additional 529 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Chord Energy by 254.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock valued at $67,000 after acquiring an additional 493 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Chord Energy by 89.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock valued at $67,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $89.15 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.10 billion, a PE ratio of 22.68 and a beta of 0.94. The business’s 50-day moving average price is $101.37 and its 200-day moving average price is $99.37. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $136.38.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the previous year, the business earned $4.69 earnings per share. Chord Energy’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 132.32%.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHRD. UBS Group raised their price target on Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Wells Fargo & Company lowered their price target on Chord Energy from $149.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Morgan Stanley reduced their price objective on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. Finally, Mizuho reduced their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

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.