Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 35.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,573 shares of the company's stock after selling 20,786 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Chord Energy worth $4,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC boosted its stake in shares of 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 buying an additional 162 shares during the last quarter. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. bought a new position in Chord Energy in the third quarter valued at about $34,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock worth $41,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of Chord Energy stock traded down $5.16 during trading hours on Wednesday, reaching $122.32. The stock had a trading volume of 965,913 shares, compared to its average volume of 894,125. Chord Energy Co. has a twelve month low of $121.54 and a twelve 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. The stock's 50 day moving average is $129.61 and its 200 day moving average is $149.68. The firm has a market capitalization of $7.48 billion, a PE ratio of 6.30, a PEG ratio of 5.09 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy's revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.04 earnings per share. Equities analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is currently 25.75%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Piper Sandler increased their price target on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Truist Financial lowered their price target 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. Finally, UBS Group began coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a "buy" rating and a $168.00 target price for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and a consensus price target of $188.45.

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.