Shelton Capital Management Cuts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Shelton Capital Management cut its position in Chord Energy Co. (NASDAQ:CHRD) by 4.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,989 shares of the company’s stock after selling 101 shares during the quarter. Shelton Capital Management’s holdings in Chord Energy were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its position in Chord Energy by 87.5% during the second quarter. Signaturefd LLC now owns 180 shares of the company’s stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in Chord Energy during the 4th quarter worth $28,000. Assetmark Inc. purchased a new position in Chord Energy during the 1st quarter worth $30,000. Viking Fund Management LLC acquired a new position in Chord Energy during the 2nd quarter valued at about $38,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Chord Energy in the fourth quarter worth about $48,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHRD has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Chord Energy from $206.00 to $209.00 and gave the company an “overweight” rating in a report on Thursday, November 16th. Stifel Nicolaus lowered their price objective on shares of Chord Energy from $185.00 to $183.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial reissued a “buy” rating and issued a $221.00 target price on shares of Chord Energy in a research report on Wednesday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chord Energy in a research report on Wednesday, August 23rd. Finally, BMO Capital Markets assumed coverage on Chord Energy in a report on Thursday, August 31st. They issued an “outperform” rating and a $185.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.40.

Chord Energy Stock Down 0.5 %

Shares of CHRD stock opened at $161.74 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a twelve month low of $117.05 and a twelve month high of $175.20. The stock has a 50 day moving average of $162.80 and a 200 day moving average of $156.11. The stock has a market cap of $6.68 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.42 and a beta of 1.28.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $5.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.18). Chord Energy had a return on equity of 16.74% and a net margin of 27.86%. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $763.94 million. During the same period last year, the company posted $7.20 earnings per share. The business’s quarterly revenue was down 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Chord Energy Co. will post 19.56 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, November 13th. Chord Energy’s payout ratio is currently 19.81%.

Insider Activity

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $159.05, for a total transaction of $477,150.00. Following the completion of the transaction, the director now directly owns 223,098 shares in the company, valued at $35,483,736.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $159.05, for a total transaction of $477,150.00. Following the completion of the sale, the director now owns 223,098 shares of the company’s stock, valued at $35,483,736.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Charles J. Rimer sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $163.46, for a total transaction of $245,190.00. Following the completion of the transaction, the chief operating officer now directly owns 86,773 shares in the company, valued at $14,183,914.58. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,963,575 over the last three months. 0.52% of the stock is currently owned by corporate insiders.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.