Chord Energy Co. (NASDAQ:CHRD) Stock Position Boosted by Invenomic Capital Management LP

Invenomic Capital Management LP raised its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 313,246 shares of the company’s stock after buying an additional 49,906 shares during the quarter. Chord Energy comprises about 1.7% of Invenomic Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Invenomic Capital Management LP owned approximately 0.51% of Chord Energy worth $36,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Chord Energy in the fourth quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy during the fourth quarter valued at about $29,000. Twin Tree Management LP purchased a new position in shares of Chord Energy in the 4th quarter valued at approximately $33,000. Larson Financial Group LLC boosted its stake in Chord Energy by 238.3% in 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 in the last quarter. Finally, R Squared Ltd purchased a new stake in Chord Energy during the 4th quarter worth approximately $51,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

Shares of CHRD stock opened at $93.04 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The business’s 50 day moving average is $98.60 and its two-hundred day moving average is $112.58. The company has a market capitalization of $5.53 billion, a P/E ratio of 4.79, a P/E/G ratio of 5.83 and a beta of 0.99.

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

Chord Energy Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.59%. Chord Energy’s dividend payout ratio is currently 34.78%.

Analysts Set New Price Targets

CHRD has been the subject of a number of research analyst reports. Truist Financial raised their price target 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. Bank of America raised Chord Energy from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $125.00 to $114.00 in a research report on Tuesday, April 29th. Wells Fargo & Company cut their price objective on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada decreased their target price on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.