Cornercap Investment Counsel Inc. Has $2.42 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Cornercap Investment Counsel Inc. trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,443 shares of the company’s stock after selling 121 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Chord Energy were worth $2,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after buying an additional 1,269,658 shares during the last quarter. Boston Partners boosted its holdings in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after buying an additional 674,965 shares during the last quarter. SIR Capital Management L.P. bought a new position in Chord Energy during the second quarter worth about $32,895,000. Bank of New York Mellon Corp boosted its holdings in Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock worth $127,747,000 after buying an additional 165,196 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Chord Energy by 40.5% during the first quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock worth $93,525,000 after buying an additional 151,218 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group began coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Truist Financial cut their price objective on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Piper Sandler cut their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.10.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 0.5 %

NASDAQ CHRD opened at $132.93 on Thursday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 4.54 and a beta of 0.99. The stock’s 50 day moving average price is $158.53 and its two-hundred day moving average price is $168.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. Chord Energy Co. has a 52 week low of $129.75 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.65 EPS. As a group, analysts anticipate that Chord Energy Co. will post 19.61 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

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.