Point72 Hong Kong Ltd bought a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,060 shares of the company's stock, valued at approximately $1,961,000.
Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Chord Energy by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company's stock valued at $4,460,000 after purchasing an additional 1,586 shares during the last quarter. Comerica Bank increased its holdings in shares of Chord Energy by 10.7% during the 1st quarter. Comerica Bank now owns 20,591 shares of the company's stock valued at $3,670,000 after acquiring an additional 1,994 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Chord Energy by 319.1% during the 1st quarter. Cetera Investment Advisers now owns 9,479 shares of the company's stock valued at $1,689,000 after acquiring an additional 7,217 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Chord Energy during the 1st quarter valued at about $444,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Chord Energy in the 1st quarter valued at approximately $72,000. 97.76% of the stock is owned by institutional investors and hedge funds.
Chord Energy Stock Performance
Chord Energy stock traded down $0.67 during mid-day trading on Monday, reaching $126.85. The company's stock had a trading volume of 258,563 shares, compared to its average volume of 890,866. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23. The company has a market capitalization of $7.75 billion, a P/E ratio of 6.50, a PEG ratio of 5.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm's fifty day moving average price is $130.17 and its two-hundred day moving average price is $150.62.
Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its 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). The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations 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 was up 33.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.04 earnings per share. Sell-side analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.
Chord Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.94%. Chord Energy's dividend payout ratio is presently 25.75%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They set a "hold" rating and a $160.00 price objective on the stock. 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. Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. 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 research note on Wednesday, October 16th. Finally, UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They set a "buy" rating and a $168.00 price objective for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $188.45.
Get Our Latest Stock Analysis on Chord Energy
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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