Kingsview Wealth Management LLC increased its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 193.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,001 shares of the company's stock after purchasing an additional 9,231 shares during the quarter. Kingsview Wealth Management LLC's holdings in Chord Energy were worth $1,823,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CHRD. Shell Asset Management Co. bought a new stake in Chord Energy during the first quarter worth about $246,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Chord Energy by 6.8% during 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 last quarter. Comerica Bank boosted its stake in Chord Energy by 10.7% during the 1st 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 during the last quarter. Cetera Investment Advisers raised its stake in shares of Chord Energy by 319.1% in the first quarter. Cetera Investment Advisers now owns 9,479 shares of the company's stock worth $1,689,000 after purchasing an additional 7,217 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Chord Energy during the first quarter valued at $444,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CHRD has been the topic of a number of recent analyst reports. 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 report on Friday, October 4th. Truist Financial reduced 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 note on Monday, September 30th. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Citigroup dropped 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, Piper Sandler upped 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. Two 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $188.45.
View Our Latest Stock Analysis on CHRD
Chord Energy Price Performance
Shares of NASDAQ:CHRD traded down $2.46 during mid-day trading on Tuesday, reaching $127.98. The stock had a trading volume of 519,873 shares, compared to its average volume of 894,813. 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 Co. has a 1 year low of $123.30 and a 1 year high of $190.23. The business's 50 day moving average price is $130.92 and its 200 day moving average price is $152.14. The company has a market cap of $7.82 billion, a P/E ratio of 6.72, a price-to-earnings-growth ratio of 5.39 and a beta of 0.98.
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 the consensus estimate 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 the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $5.04 EPS. The company's revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.
Chord Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given 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 yield of 3.91%. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.
Chord Energy Profile
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Free Report)
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.
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