Tectonic Advisors LLC Increases Position in Chord Energy Co. (NASDAQ:CHRD)

Tectonic Advisors LLC increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,443 shares of the company’s stock after acquiring an additional 176 shares during the period. Tectonic Advisors LLC’s holdings in Chord Energy were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC lifted its position in Chord Energy by 462.9% during the 3rd 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 period. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy during the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in Chord Energy in the 4th quarter valued at $29,000. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the 3rd 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. purchased a new position in Chord Energy during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, January 3rd. Bank of America reissued a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho cut their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Trading Down 1.2 %

Chord Energy stock opened at $110.75 on Thursday. The stock has a 50-day moving average price of $118.99 and a 200 day moving average price of $132.61. Chord Energy Co. has a 52 week low of $109.21 and a 52 week high of $190.23. The stock has a market cap of $6.77 billion, a PE ratio of 5.70, a P/E/G ratio of 5.67 and a beta of 0.98. 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm 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 quarter last year, the firm earned $5.04 earnings per share. Equities research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.51%. Chord Energy’s dividend payout ratio (DPR) 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.