Gables Capital Management Inc. Sells 200 Shares of Chord Energy Corporation $CHRD

Gables Capital Management Inc. lowered its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,350 shares of the company’s stock after selling 200 shares during the quarter. Gables Capital Management Inc.’s holdings in Chord Energy were worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lynx Investment Advisory lifted its holdings in Chord Energy by 3.6% in the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after buying an additional 99 shares during the period. National Bank of Canada FI lifted its holdings in Chord Energy by 2.1% in the 1st quarter. National Bank of Canada FI now owns 5,258 shares of the company’s stock worth $592,000 after buying an additional 106 shares during the period. Voya Investment Management LLC lifted its holdings in Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after buying an additional 107 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Chord Energy by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock worth $329,000 after buying an additional 118 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its holdings in Chord Energy by 3.9% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 5,347 shares of the company’s stock worth $603,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 0.6%

NASDAQ CHRD opened at $89.15 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $136.38. The firm has a market capitalization of $5.10 billion, a PE ratio of 22.68 and a beta of 0.94. The stock’s 50 day moving average is $101.37 and its 200 day moving average is $99.37.

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 the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the firm earned $4.69 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s payout ratio is 132.32%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CHRD. Bank of America increased their price objective on Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Chord Energy in a report on Monday, October 6th. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley lowered their target price on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, Piper Sandler dropped their price target on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $138.38.

About Chord Energy

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.