Stifel Financial Corp Increases Position in Chord Energy Co. (NASDAQ:CHRD)

Stifel Financial Corp increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 28.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,992 shares of the company's stock after acquiring an additional 23,794 shares during the period. Stifel Financial Corp owned about 0.17% of Chord Energy worth $13,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP acquired a new stake in Chord Energy in the third quarter valued at approximately $201,000. Quarry LP raised its position in Chord Energy by 437.5% during the third quarter. Quarry LP now owns 946 shares of the company's stock worth $123,000 after acquiring an additional 770 shares during the period. Point72 DIFC Ltd grew its position in shares of Chord Energy by 79.2% in the third quarter. Point72 DIFC Ltd now owns 18,910 shares of the company's stock valued at $2,463,000 after purchasing an additional 8,360 shares during the period. Point72 Asset Management L.P. raised its position in shares of Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after purchasing an additional 519,547 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in Chord Energy by 42.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company's stock valued at $260,000 after buying an additional 600 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Up 1.3 %

Shares of CHRD stock traded up $1.55 during trading hours on Wednesday, reaching $119.47. 484,741 shares of the stock were exchanged, compared to its average volume of 891,125. The business's fifty day moving average is $128.75 and its two-hundred day moving average is $147.78. The firm has a market capitalization of $7.30 billion, a P/E ratio of 6.07, a P/E/G ratio of 4.70 and a beta of 0.96. Chord Energy Co. has a 12-month low of $115.96 and a 12-month high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS 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 firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned $5.04 EPS. The company's revenue was up 33.4% on a year-over-year basis. As a group, research analysts expect 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. Shareholders of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy's dividend payout ratio is presently 25.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CHRD shares. Bank of America increased their target price on Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They issued a "hold" rating and a $160.00 price target for the company. BMO Capital Markets decreased their target price 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. Finally, Royal Bank of Canada reduced their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Two 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $187.82.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now owns 20,488 shares in the company, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

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.