Caxton Associates LP Makes New $2.52 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Caxton Associates LP bought a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $2,515,000.

Several other large investors have also added to or reduced their stakes in CHRD. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy in the second quarter worth about $4,426,000. Capital Fund Management S.A. grew its stake in Chord Energy by 252.9% in the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company's stock valued at $7,303,000 after buying an additional 31,484 shares in the last quarter. Sei Investments Co. grew its stake in Chord Energy by 24.0% in the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company's stock valued at $25,696,000 after buying an additional 27,903 shares in the last quarter. Quantbot Technologies LP bought a new stake in Chord Energy during the 1st quarter valued at $884,000. Finally, BOKF NA lifted its position in shares of Chord Energy by 1,678.3% during the first quarter. BOKF NA now owns 15,471 shares of the company's stock worth $2,751,000 after acquiring an additional 14,601 shares in the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD traded down $5.41 during trading hours on Thursday, reaching $127.41. 1,076,292 shares of the stock traded hands, compared to its average volume of 893,951. The company has a market cap of $5.31 billion, a P/E ratio of 6.04, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company's 50-day moving average price is $150.31 and its two-hundred day moving average price is $166.60. Chord Energy Co. has a 52-week low of $126.96 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the company posted $3.65 earnings per share. The firm's revenue was up 29.8% compared to the same quarter last year. On average, analysts anticipate that Chord Energy Co. will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy's dividend payout ratio is presently 23.46%.

Insider Activity

In related news, Director Samantha Holroyd bought 500 shares of the business's stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company's stock, valued at $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHRD shares. BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They set an "outperform" rating and a $230.00 price objective on the stock. Wolfe Research started coverage on Chord Energy in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a "hold" rating and a $160.00 price objective for the company. Citigroup dropped their price objective on Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Finally, Piper Sandler lowered their target price on shares of Chord Energy from $234.00 to $206.00 and set an "overweight" rating on the stock in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.10.

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.