Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,162,442 shares of the company's stock after buying an additional 34,156 shares during the quarter. Geode Capital Management LLC owned approximately 1.90% of Chord Energy worth $151,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CHRD. FMR LLC increased its holdings in Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company's stock valued at $445,388,000 after buying an additional 74,165 shares during the last quarter. State Street Corp increased its holdings in shares of Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after acquiring an additional 22,753 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 741,705 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Chord Energy by 8,762.1% during the third 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 during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

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

Analysts Set New Price Targets

CHRD has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a "hold" rating and a $160.00 price target on the stock. Mizuho dropped their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Finally, Truist Financial reduced their target price on Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $182.55.

Chord Energy Stock Performance

CHRD stock traded down $1.10 during trading on Tuesday, hitting $115.09. The company had a trading volume of 826,500 shares, compared to its average volume of 891,769. The firm has a 50-day moving average price of $127.45 and a 200-day moving average price of $146.03. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.04 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. Chord Energy Co. has a 1-year low of $113.58 and a 1-year high of $190.23.

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

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

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.