Moody Aldrich Partners LLC Lowers Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Moody Aldrich Partners LLC cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 94.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,750 shares of the company's stock after selling 27,422 shares during the quarter. Moody Aldrich Partners LLC's holdings in Chord Energy were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kraematon Investment Advisors Inc. purchased a new stake in Chord Energy in the 2nd quarter worth $4,426,000. Sei Investments Co. grew its position in shares of Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company's stock worth $25,696,000 after purchasing an additional 27,903 shares in the last quarter. Bank of Montreal Can raised its stake in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock valued at $9,873,000 after purchasing an additional 52,835 shares during the period. Quantbot Technologies LP purchased a new position in Chord Energy in the 1st quarter worth approximately $884,000. Finally, BOKF NA lifted its holdings in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company's stock worth $2,751,000 after purchasing an additional 14,601 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Up 0.9 %

CHRD stock traded up $1.18 during midday trading on Friday, reaching $128.85. 853,928 shares of the company traded hands, compared to its average volume of 879,442. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 6.25, a P/E/G ratio of 5.04 and a beta of 0.97. Chord Energy Co. has a 52-week low of $126.38 and a 52-week high of $190.23. The business has a 50 day moving average of $136.61 and a 200-day moving average of $160.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The company had revenue of $902.70 million for the quarter, compared to analysts' expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business's quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.65 EPS. As a group, sell-side analysts expect that Chord Energy Co. will post 17.07 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.88%. Chord Energy's dividend payout ratio (DPR) is presently 24.27%.

Insider Buying and Selling

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company's stock, valued at $2,155,485.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CHRD shares. UBS Group started 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 on the stock. Piper Sandler lifted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price target 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. BMO Capital Markets cut their price objective on Chord Energy from $205.00 to $175.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Finally, Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $190.18.

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.