Covestor Ltd Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Covestor Ltd raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 21.4% during the third quarter, HoldingsChannel reports. The firm owned 767 shares of the company’s stock after purchasing an additional 135 shares during the period. Covestor Ltd’s holdings in Chord Energy were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CHRD. GAMMA Investing LLC boosted its stake in shares of Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock worth $3,552,000 after buying an additional 100 shares during the period. UMB Bank n.a. boosted its position in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Chord Energy by 2.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wolfe Research initiated coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets cut their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Down 2.3 %

Shares of CHRD stock opened at $128.60 on Wednesday. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm has a market capitalization of $7.96 billion, a PE ratio of 6.62, a P/E/G ratio of 5.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s 50-day simple moving average is $131.67 and its 200-day simple moving average is $155.19.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results 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 for 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 business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 earnings per share. Equities analysts expect that Chord Energy Co. will post 17.07 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were purchased 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. This represents a 0.00 % increase in their ownership of the stock. The purchase 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 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.