Eagle Asset Management Inc. Lowers Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Eagle Asset Management Inc. trimmed its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 41.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,687 shares of the company's stock after selling 123,832 shares during the quarter. Eagle Asset Management Inc. owned 0.28% of Chord Energy worth $22,665,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CHRD. GAMMA Investing LLC grew its holdings in shares of Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Commerce Bank grew its stake in shares of Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company's stock worth $307,000 after acquiring an additional 98 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Chord Energy by 0.4% in the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock worth $3,552,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company's stock valued at $329,000 after purchasing an additional 119 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

NASDAQ CHRD traded up $2.07 on Friday, reaching $134.43. The stock had a trading volume of 1,044,870 shares, compared to its average volume of 885,571. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $8.22 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 5.31 and a beta of 0.98. The business's 50-day moving average price is $131.00 and its 200 day moving average price is $152.88. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.04 earnings per share. As a group, equities analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy's dividend payout ratio is presently 25.75%.

Analysts Set New Price Targets

CHRD has been the topic of several recent research reports. Royal Bank of Canada cut their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday. 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. Citigroup decreased their price target on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Truist Financial dropped their price objective on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, UBS Group assumed coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a "buy" rating and a $168.00 price objective for the company. Two equities 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 MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average price target of $188.45.

Chord Energy 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.