Commerce Bank Grows Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Commerce Bank raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,361 shares of the company’s stock after buying an additional 98 shares during the quarter. Commerce Bank’s holdings in Chord Energy were worth $307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Segall Bryant & Hamill LLC raised its position in shares of Chord Energy by 9.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 85,746 shares of the company’s stock valued at $11,167,000 after buying an additional 7,514 shares in the last quarter. Beddow Capital Management Inc. bought a new stake in Chord Energy during the third quarter worth approximately $522,000. Lindenwold Advisors INC raised its position in Chord Energy by 5.0% during the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock valued at $329,000 after purchasing an additional 119 shares during the period. Quest Partners LLC lifted its stake in shares of Chord Energy by 718,700.0% in the 3rd quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock valued at $936,000 after purchasing an additional 7,187 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Chord Energy by 0.6% in the 3rd quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after purchasing an additional 1,100 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CHRD. Piper Sandler increased their price target on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. UBS Group started coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price on the stock. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Citigroup dropped their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Stock Down 1.2 %

NASDAQ:CHRD opened at $126.43 on Thursday. The firm has a market cap of $7.73 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 5.23 and a beta of 0.98. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a 50-day moving average of $130.74 and a 200 day moving average of $151.78.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.04 earnings per share. As a group, research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.95%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

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.