Ninepoint Partners LP Increases Stake in Chord Energy Co. (NASDAQ:CHRD)

Ninepoint Partners LP boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Chord Energy accounts for approximately 1.8% of Ninepoint Partners LP’s investment portfolio, making the stock its 8th largest holding. Ninepoint Partners LP owned 0.24% of Chord Energy worth $16,623,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vest Financial LLC increased its holdings in shares of Chord Energy by 36.0% during the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after purchasing an additional 20,995 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Chord Energy by 12.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after purchasing an additional 53,992 shares during the period. Natixis Advisors L.P. increased its holdings in shares of Chord Energy by 68.5% during the third quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after purchasing an additional 15,632 shares during the period. Vanguard Group Inc. increased its holdings in shares of Chord Energy by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after purchasing an additional 21,034 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Chord Energy by 7.9% during the third quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock valued at $72,061,000 after purchasing an additional 32,429 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Truist Financial decreased their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Stifel Nicolaus increased their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $177.00 to $165.00 in a research report on Friday, January 5th. Finally, Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.40.

Chord Energy Price Performance

CHRD stock traded up $1.45 during trading on Friday, hitting $180.10. The company had a trading volume of 194,528 shares, compared to its average volume of 670,086. The company has a fifty day moving average price of $170.08 and a two-hundred day moving average price of $164.39. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.48 billion, a P/E ratio of 7.59 and a beta of 1.06. Chord Energy Co. has a fifty-two week low of $133.34 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Equities research analysts expect that Chord Energy Co. will post 21.71 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a $3.25 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a yield of 7.22%. Chord Energy’s payout ratio is presently 21.25%.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.