Citigroup Inc. Cuts Position in Chord Energy Co. (NASDAQ:CHRD)

Citigroup Inc. lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 21.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,655 shares of the company's stock after selling 14,918 shares during the quarter. Citigroup Inc. owned approximately 0.09% of Chord Energy worth $7,118,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company's stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock worth $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock worth $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Millennium Management LLC grew its position in shares of Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company's stock valued at $116,787,000 after purchasing an additional 483,144 shares in the last quarter. Finally, KGH Ltd increased its holdings in shares of Chord Energy by 872.0% in the second quarter. KGH Ltd now owns 485,998 shares of the company's stock valued at $81,492,000 after purchasing an additional 435,998 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 0.9 %

NASDAQ CHRD traded up $1.09 on Friday, reaching $127.52. The stock had a trading volume of 382,804 shares, compared to its average volume of 1,064,442. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23. The stock has a fifty day moving average price of $130.17 and a two-hundred day moving average price of $150.84. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 5.12 and a beta of 0.98. 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $5.04 EPS. Chord Energy's quarterly revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chord Energy Co. will post 16.5 EPS for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy's dividend payout ratio is presently 25.75%.

Analyst Ratings Changes

CHRD has been the topic of a number of recent research reports. UBS Group assumed coverage on Chord Energy in a research note on Wednesday, October 16th. They set a "buy" rating and a $168.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a "hold" rating and a $160.00 target price on the stock. 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 note on Monday, November 18th. Finally, Citigroup reduced their price target 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. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.45.

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.