AustralianSuper Pty Ltd Purchases New Position in Chord Energy Co. (NASDAQ:CHRD)

AustralianSuper Pty Ltd purchased a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,969 shares of the company's stock, valued at approximately $6,247,000. AustralianSuper Pty Ltd owned 0.12% of Chord Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company's stock valued at $266,454,000 after purchasing an additional 1,269,658 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock valued at $297,090,000 after buying an additional 741,705 shares during the period. Boston Partners increased its position in shares of Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company's stock valued at $232,813,000 after buying an additional 674,965 shares in the last quarter. Millennium Management LLC raised its stake in Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company's stock worth $116,787,000 after buying an additional 483,144 shares during the period. Finally, KGH Ltd raised its stake in Chord Energy by 872.0% during the 2nd quarter. KGH Ltd now owns 485,998 shares of the company's stock worth $81,492,000 after buying an additional 435,998 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Down 1.0 %

CHRD stock traded down $1.30 during midday trading on Friday, hitting $123.80. The company's stock had a trading volume of 1,067,135 shares, compared to its average volume of 876,612. The company's fifty day moving average price is $134.69 and its 200 day moving average price is $158.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy Co. has a twelve month low of $123.30 and a twelve month high of $190.23. The stock has a market capitalization of $7.66 billion, a P/E ratio of 6.01, a PEG ratio of 4.90 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the firm posted $3.65 EPS. Chord Energy's revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts predict that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy's dividend payout ratio is currently 24.27%.

Wall Street Analyst Weigh In

CHRD has been the subject of several recent analyst reports. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a report on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Chord Energy in a research note on Friday, September 20th. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Piper Sandler upped 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. Finally, BMO Capital Markets dropped their price objective on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.18.

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.