Wellington Management Group LLP trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 44.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,635,199 shares of the company's stock after selling 1,295,237 shares during the quarter. Wellington Management Group LLP owned 2.67% of Chord Energy worth $212,952,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its position in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after purchasing an additional 162 shares during the period. Stone House Investment Management LLC purchased a new stake in Chord Energy in the 3rd quarter worth about $26,000. UMB Bank n.a. raised its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after purchasing an additional 101 shares during the period. Spartan Fund Management Inc. purchased a new stake in Chord Energy in the 3rd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Chord Energy in the 2nd quarter worth about $40,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Chord Energy Stock Up 1.8 %
Shares of NASDAQ CHRD traded up $2.13 during mid-day trading on Monday, reaching $119.33. 837,201 shares of the company were exchanged, compared to its average volume of 893,776. Chord Energy Co. has a 1 year low of $115.96 and a 1 year high of $190.23. The firm has a 50-day moving average of $129.22 and a 200 day moving average of $148.62. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 4.70 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.
Chord Energy (NASDAQ:CHRD - Get Free Report) last released 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm's quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.04 earnings per share. On average, research analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.
Chord Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Wednesday, November 27th. Chord Energy's payout ratio is presently 25.75%.
Analyst Ratings Changes
A number of research firms recently weighed in on CHRD. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Bank of America upped their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Finally, UBS Group began coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a "buy" rating and a $168.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.45.
Get Our Latest Analysis on CHRD
Chord Energy Company Profile
(
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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