Chord Energy Co. (NASDAQ:CHRD) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,318 shares of the company’s stock after selling 790 shares during the quarter. KBC Group NV owned 0.07% of Chord Energy worth $5,902,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares in the last quarter. Boston Partners lifted its stake in shares of Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares during the period. American Century Companies Inc. boosted its holdings in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after buying an additional 113,618 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after buying an additional 165,196 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Wells Fargo & Company lowered their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. UBS Group started coverage on Chord Energy in a research report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.18.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 3.59 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Down 2.8 %

Shares of NASDAQ CHRD opened at $127.28 on Monday. The stock has a market cap of $7.78 billion, a PE ratio of 6.55, a P/E/G ratio of 5.02 and a beta of 0.98. The company has a 50-day moving average of $131.20 and a 200 day moving average of $154.15. Chord Energy Co. has a 12-month low of $123.30 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) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted $5.04 EPS. The company’s revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chord Energy Co. will post 16.8 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Chord Energy Company 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.