Encompass Capital Advisors LLC Purchases New Position in Chord Energy Co. (NASDAQ:CHRD)

Encompass Capital Advisors LLC purchased a new stake in Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 374,142 shares of the company’s stock, valued at approximately $43,745,000. Chord Energy accounts for about 1.7% of Encompass Capital Advisors LLC’s portfolio, making the stock its 20th biggest position. Encompass Capital Advisors LLC owned about 0.61% of Chord Energy at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CHRD. Pacer Advisors Inc. increased its stake in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after buying an additional 619,021 shares in the last quarter. FMR LLC boosted its position in shares of Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after acquiring an additional 394,372 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chord Energy in the fourth quarter valued at about $29,984,000. Finally, Marshall Wace LLP increased its position in Chord Energy by 164.6% during the fourth quarter. Marshall Wace LLP now owns 334,641 shares of the company’s stock worth $39,126,000 after acquiring an additional 208,170 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

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

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $5.10 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s payout ratio is currently 32.62%.

Analyst Ratings Changes

A number of brokerages have issued reports on CHRD. Citigroup decreased their target price on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. Truist Financial upped their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada decreased their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company cut their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.08.

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.