Point72 DIFC Ltd Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Point72 DIFC Ltd increased its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 79.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,910 shares of the company's stock after purchasing an additional 8,360 shares during the period. Point72 DIFC Ltd's holdings in Chord Energy were worth $2,463,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Chord Energy by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Commerce Bank increased its position in shares of Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company's stock valued at $307,000 after purchasing an additional 98 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock valued at $3,552,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. increased its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after purchasing an additional 101 shares during the last quarter. Finally, Lindenwold Advisors INC increased its position in shares of Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company's stock valued at $329,000 after purchasing an additional 119 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CHRD. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They issued a "hold" rating and a $160.00 price objective for the company. UBS Group assumed coverage on Chord Energy in a report on Wednesday, October 16th. They issued a "buy" rating and a $168.00 price objective for the company. Wells Fargo & Company decreased their price objective on Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada decreased their price objective on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $188.45.

Chord Energy Price Performance

Shares of CHRD stock traded down $0.61 during trading on Thursday, hitting $121.71. The company had a trading volume of 843,774 shares, compared to its average volume of 893,913. 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 stock's 50-day moving average is $129.49 and its two-hundred day moving average is $149.49. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 5.12 and a beta of 0.96. Chord Energy Co. has a 52 week low of $121.54 and a 52 week high of $190.23.

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 for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm's revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the company posted $5.04 earnings per share. As a group, 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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy's dividend payout ratio is currently 25.75%.

Chord Energy 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.