HITE Hedge Asset Management LLC Grows Position in Chord Energy Co. (NASDAQ:CHRD)

HITE Hedge Asset Management LLC grew its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,052 shares of the company's stock after buying an additional 14,405 shares during the period. Chord Energy accounts for about 3.5% of HITE Hedge Asset Management LLC's holdings, making the stock its 6th biggest holding. HITE Hedge Asset Management LLC owned 0.38% of Chord Energy worth $30,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Chord Energy by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company's stock valued at $4,460,000 after buying an additional 1,586 shares during the period. Comerica Bank increased its stake in Chord Energy by 10.7% in the first quarter. Comerica Bank now owns 20,591 shares of the company's stock valued at $3,670,000 after purchasing an additional 1,994 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Chord Energy by 319.1% during the first quarter. Cetera Investment Advisers now owns 9,479 shares of the company's stock valued at $1,689,000 after purchasing an additional 7,217 shares during the period. Cetera Advisors LLC bought a new position in shares of Chord Energy during the 1st quarter worth about $444,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Chord Energy during the 1st quarter worth about $72,000. 97.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CHRD shares. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Piper Sandler lifted their price target on Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Wells Fargo & Company decreased their price objective on Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. BMO Capital Markets dropped their price target 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. Finally, Truist Financial reduced their price objective 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. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and an average price target of $188.45.

Chord Energy Trading Up 0.5 %

NASDAQ CHRD traded up $0.60 on Tuesday, hitting $127.48. The company's stock had a trading volume of 918,824 shares, compared to its average volume of 893,817. The firm has a market cap of $7.79 billion, a P/E ratio of 6.56, a PEG ratio of 5.09 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's 50-day simple moving average is $129.96 and its 200 day simple moving average is $150.25. 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 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the business earned $5.04 EPS. The business's revenue was up 33.4% compared to the same quarter last year. Research analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy's payout ratio is 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.