Franklin Resources Inc. Acquires 11,527 Shares of Chord Energy Co. (NASDAQ:CHRD)

Franklin Resources Inc. raised its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 72.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,434 shares of the company's stock after buying an additional 11,527 shares during the quarter. Franklin Resources Inc.'s holdings in Chord Energy were worth $3,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. GAMMA Investing LLC grew its holdings in shares of Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after buying an additional 97 shares in the last quarter. Commerce Bank boosted its position in Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company's stock worth $307,000 after acquiring an additional 98 shares during the period. New York State Teachers Retirement System grew its stake in Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock valued at $3,552,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after purchasing an additional 101 shares during the period. Finally, Lindenwold Advisors INC grew its position in Chord Energy by 5.0% during 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 in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $1.67 during mid-day trading on Wednesday, hitting $113.18. The company had a trading volume of 266,733 shares, compared to its average volume of 896,893. Chord Energy Co. has a 12 month low of $109.59 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. The firm has a market cap of $6.92 billion, a P/E ratio of 5.83, a PEG ratio of 4.79 and a beta of 0.96. The business's 50-day simple moving average is $125.03 and its 200-day simple moving average is $143.43.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.04 EPS. As a group, analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho cut their price objective on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Truist Financial reduced their target price 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. Wells Fargo & Company raised their target price on Chord Energy from $175.00 to $176.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. BMO Capital Markets decreased their price objective on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, Piper Sandler cut their target price on shares of Chord Energy from $212.00 to $194.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Two investment 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $182.55.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.