Ontario Teachers Pension Plan Board lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 75.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,753 shares of the company's stock after selling 20,495 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Chord Energy were worth $879,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its stake in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock valued at $26,000 after purchasing an additional 162 shares during the period. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the 2nd quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. increased its stake in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock worth $41,000 after acquiring an additional 136 shares during the last quarter. Finally, Spartan Fund Management Inc. bought a new stake in Chord Energy in the 3rd quarter worth approximately $34,000. Institutional investors own 97.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on CHRD shares. BMO Capital Markets reduced their price objective on Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Siebert Williams Shank raised Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. UBS Group assumed coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a "buy" rating and a $168.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $188.45.
Check Out Our Latest Analysis on Chord Energy
Chord Energy Trading Up 1.6 %
CHRD traded up $2.07 during trading hours on Friday, reaching $134.43. 1,044,868 shares of the company's stock traded hands, compared to its average volume of 880,818. The firm has a 50-day moving average price of $130.99 and a 200 day moving average price of $153.18. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23. 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 capitalization of $8.22 billion, a PE ratio of 6.80, a PEG ratio of 5.14 and a beta of 0.98.
Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the firm earned $5.04 EPS. Chord Energy's revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.
Chord Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. 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 25.75%.
Chord Energy Profile
(
Free Report)
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.
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