Point72 Asia Singapore Pte. Ltd. grew its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 146.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,726 shares of the company's stock after purchasing an additional 3,994 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Chord Energy were worth $876,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Kraematon Investment Advisors Inc. purchased a new position in Chord Energy in the 2nd quarter valued at approximately $4,426,000. Victory Capital Management Inc. grew its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Bank of Montreal Can increased its holdings in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock worth $9,873,000 after purchasing an additional 52,835 shares during the period. Caxton Associates LP acquired a new stake in Chord Energy in the 2nd quarter valued at about $2,515,000. Finally, Foundry Partners LLC boosted its stake in shares of Chord Energy by 22.7% in the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company's stock valued at $6,773,000 after buying an additional 9,613 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.
Chord Energy Stock Performance
Shares of CHRD stock traded down $0.33 during mid-day trading on Monday, hitting $127.19. The stock had a trading volume of 338,319 shares, compared to its average volume of 891,194. The firm has a market cap of $7.78 billion, a PE ratio of 6.50, a PEG ratio of 5.12 and a beta of 0.98. The company's 50-day simple moving average is $130.17 and its 200-day simple moving average is $150.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23.
Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the company earned $5.04 earnings per share. The company's revenue for the quarter was up 33.4% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current year.
Chord Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is 25.75%.
Wall Street Analyst Weigh In
CHRD has been the topic of a number of recent research reports. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. UBS Group began coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a "buy" rating and a $168.00 price target on the stock. Truist Financial dropped their price objective on Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Royal Bank of Canada reduced their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Finally, Wells Fargo & Company cut their price target on Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.45.
Check Out Our Latest Analysis on Chord Energy
Chord Energy Company 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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