Gamco Investors INC. ET AL Acquires New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Posted by Defense World Staff on Jun 11th, 2023

Gamco Investors INC. ET AL acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,357 shares of the company’s stock, valued at approximately $596,000.

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in Chord Energy during the fourth quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new position in Chord Energy during the fourth quarter valued at approximately $25,000. Fifth Third Bancorp purchased a new position in Chord Energy during the fourth quarter valued at approximately $29,000. Adams Natural Resources Fund Inc. purchased a new position in Chord Energy during the fourth quarter valued at approximately $31,000. Finally, Ellevest Inc. purchased a new position in Chord Energy during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of research reports. Truist Financial cut their price target on shares of Chord Energy from $252.00 to $246.00 in a research note on Monday, May 8th. Piper Sandler cut their price target on shares of Chord Energy from $213.00 to $204.00 in a research note on Thursday, May 18th. Mizuho cut their price target on shares of Chord Energy from $179.00 to $172.00 in a research note on Friday, May 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 price target on shares of Chord Energy in a research note on Thursday, March 30th. Finally, Citigroup cut their price target on shares of Chord Energy from $170.00 to $165.00 in a research note on Sunday, May 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $186.63.

Chord Energy Price Performance

CHRD stock opened at $151.37 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.18. Chord Energy Co. has a 52 week low of $93.35 and a 52 week high of $178.57. The firm’s fifty day moving average is $143.49 and its 200 day moving average is $139.11. The firm has a market cap of $6.29 billion, a P/E ratio of 3.59, a P/E/G ratio of 0.37 and a beta of 1.36.

Chord Energy (NASDAQ:CHRD – Get Rating) last released its earnings results on Wednesday, May 3rd. The company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.15 by $0.35. Chord Energy had a net margin of 43.37% and a return on equity of 23.51%. The company had revenue of $896.52 million for the quarter, compared to analyst estimates of $729.67 million. Research analysts predict that Chord Energy Co. will post 21.5 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently declared a None dividend, which was paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th were given a dividend of $3.22 per share. The ex-dividend date was Monday, May 15th. This represents a yield of 3.5%. Chord Energy’s payout ratio is currently 11.85%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the stock in a transaction on Monday, April 17th. The shares were sold at an average price of $144.94, for a total transaction of $434,820.00. Following the completion of the sale, the director now owns 238,098 shares of the company’s stock, valued at approximately $34,509,924.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 9,000 shares of company stock valued at $1,282,590 in the last quarter. Company insiders own 0.52% of the company’s stock.

About Chord Energy

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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. The company was founded in 2007 and is headquartered in Houston, Texas.