Hodges Capital Management Inc. Purchases 15,036 Shares of Chord Energy Co. (NASDAQ:CHRD)

Hodges Capital Management Inc. increased its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 45.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,450 shares of the company's stock after acquiring an additional 15,036 shares during the period. Hodges Capital Management Inc. owned about 0.08% of Chord Energy worth $5,664,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after acquiring an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy during the third quarter worth $26,000. Brooklyn Investment Group bought a new position in Chord Energy during the fourth quarter worth $29,000. UMB Bank n.a. lifted its holdings in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after buying an additional 101 shares during the period. Finally, Spartan Fund Management Inc. acquired a new position in Chord Energy in the third quarter valued at $34,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD stock traded down $2.48 during trading hours on Thursday, reaching $108.27. The stock had a trading volume of 744,342 shares, compared to its average volume of 741,596. The stock's fifty day simple moving average is $118.99 and its 200 day simple moving average is $132.61. The firm has a market capitalization of $6.62 billion, a PE ratio of 5.58, a PEG ratio of 5.67 and a beta of 0.98. Chord Energy Co. has a 12 month low of $107.24 and a 12 month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company's quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the business posted $5.04 EPS. On average, equities research analysts predict that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's payout ratio is 25.75%.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company's stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Chord Energy from $194.00 to $193.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Mizuho dropped their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Truist Financial upped their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $173.08.

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.