Ascent Group LLC Buys New Shares in Chord Energy Co. (NASDAQ:CHRD)

Ascent Group LLC bought a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,569 shares of the company's stock, valued at approximately $2,028,000.

Several other institutional investors also recently modified their holdings of the business. Kraematon Investment Advisors Inc. purchased a new stake in shares of Chord Energy in the second quarter worth $4,426,000. Victory Capital Management Inc. increased its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Bank of Montreal Can raised its holdings in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock worth $9,873,000 after buying an additional 52,835 shares during the last quarter. Caxton Associates LP purchased a new position in Chord Energy in the second quarter worth about $2,515,000. Finally, Foundry Partners LLC lifted its stake in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company's stock worth $6,773,000 after buying an additional 9,613 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHRD has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a report on Monday, August 12th. Truist Financial decreased their price target on Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Piper Sandler increased their price objective on Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They issued a "hold" rating and a $160.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $188.45.

Chord Energy Stock Performance

CHRD stock traded down $0.21 during midday trading on Tuesday, reaching $126.67. 265,792 shares of the company's stock traded hands, compared to its average volume of 890,851. The stock's 50-day moving average is $129.96 and its 200 day moving average is $150.25. The stock has a market cap of $7.74 billion, a P/E ratio of 6.53, a PEG ratio of 5.12 and a beta of 0.96. Chord Energy Co. has a 52-week low of $123.30 and a 52-week 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 - Get Free Report) last announced its 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $5.04 earnings per share. Chord Energy's revenue for the quarter was up 33.4% compared to the same quarter last year. As a group, analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.95%. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

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.