Founders Capital Management Has $172,000 Holdings in Chord Energy Corporation $CHRD

Founders Capital Management lifted its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 7,000.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,775 shares of the company’s stock after purchasing an additional 1,750 shares during the quarter. Founders Capital Management’s holdings in Chord Energy were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CHRD. Nuveen LLC bought a new stake in Chord Energy during the 1st quarter worth approximately $36,837,000. HITE Hedge Asset Management LLC grew its position in Chord Energy by 27.8% during the 1st quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company’s stock worth $50,275,000 after acquiring an additional 97,086 shares during the last quarter. Trexquant Investment LP grew its position in Chord Energy by 176.1% during the 1st quarter. Trexquant Investment LP now owns 144,736 shares of the company’s stock worth $16,315,000 after acquiring an additional 92,320 shares during the last quarter. Gotham Asset Management LLC grew its position in Chord Energy by 864.5% during the 1st quarter. Gotham Asset Management LLC now owns 100,775 shares of the company’s stock worth $11,359,000 after acquiring an additional 90,327 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Chord Energy by 59.8% during the 1st quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after acquiring an additional 88,490 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several research reports. UBS Group upped their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Bank of America raised their price objective on Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Mizuho dropped their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Citigroup raised their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Piper Sandler raised their price objective on Chord Energy from $166.00 to $169.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.15.

Chord Energy Stock Down 1.8%

NASDAQ CHRD opened at $99.37 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. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $139.26. The company has a 50 day moving average of $105.12 and a 200-day moving average of $100.93. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 25.28 and a beta of 0.97.

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

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. Chord Energy’s payout ratio is currently 132.32%.

Insider Transactions at Chord Energy

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

Chord Energy Company 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.