Prescott Group Capital Management L.L.C. Makes New $1.11 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Prescott Group Capital Management L.L.C. purchased a new position in Chord Energy Co. (NASDAQ:CHRD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,227 shares of the company’s stock, valued at approximately $1,112,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Chord Energy during the 4th quarter worth about $2,563,000. PNC Financial Services Group Inc. acquired a new stake in Chord Energy in the fourth quarter valued at approximately $68,000. Advisor Group Holdings Inc. bought a new stake in Chord Energy in the fourth quarter worth approximately $1,755,000. Victory Capital Management Inc. acquired a new position in shares of Chord Energy during the 4th quarter worth $28,633,000. Finally, Bank of America Corp DE bought a new position in shares of Chord Energy during the 4th quarter valued at $31,640,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chord Energy

In other Chord Energy news, COO Charles J. Rimer sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $163.46, for a total transaction of $245,190.00. Following the completion of the sale, the chief operating officer now directly owns 86,773 shares of the company’s stock, valued at approximately $14,183,914.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $159.05, for a total value of $477,150.00. Following the completion of the sale, the director now owns 223,098 shares of the company’s stock, valued at $35,483,736.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charles J. Rimer sold 1,500 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $163.46, for a total transaction of $245,190.00. Following the completion of the sale, the chief operating officer now owns 86,773 shares in the company, valued at $14,183,914.58. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $1,963,575 over the last 90 days. Insiders own 0.52% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $0.02 during midday trading on Monday, reaching $162.61. 172,167 shares of the company traded hands, compared to its average volume of 521,402. The stock’s 50-day simple moving average is $162.71 and its 200-day simple moving average is $155.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.02. Chord Energy Co. has a 12 month low of $117.05 and a 12 month high of $175.20. The firm has a market cap of $6.71 billion, a PE ratio of 6.44, a PEG ratio of 0.42 and a beta of 1.28.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 1st. The company reported $5.04 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.18). Chord Energy had a return on equity of 16.74% and a net margin of 27.86%. The business had revenue of $840.60 million for the quarter, compared to the consensus estimate of $763.94 million. During the same quarter in the previous year, the company posted $7.20 EPS. Chord Energy’s revenue for the quarter was down 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Chord Energy Co. will post 19.56 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, November 13th. Chord Energy’s dividend payout ratio (DPR) is presently 19.81%.

Analyst Ratings Changes

CHRD has been the topic of several analyst reports. BMO Capital Markets started coverage on shares of Chord Energy in a research report on Thursday, August 31st. They set an “outperform” rating and a $185.00 target price on the stock. Mizuho raised their price objective on Chord Energy from $180.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Citigroup upped their target price on Chord Energy from $170.00 to $185.00 in a research report on Friday, August 4th. Wells Fargo & Company began coverage on shares of Chord Energy in a research note on Wednesday, November 15th. They issued an “overweight” rating and a $189.00 target price on the stock. Finally, Piper Sandler boosted their price objective on Chord Energy from $206.00 to $209.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $187.40.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.