Premier Fund Managers Ltd Sells 30,400 Shares of Chord Energy Co. (NASDAQ:CHRD)

Premier Fund Managers Ltd lessened its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 91.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,912 shares of the company's stock after selling 30,400 shares during the quarter. Premier Fund Managers Ltd's holdings in Chord Energy were worth $381,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC lifted its position in Chord Energy by 462.9% in 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 last quarter. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after buying an additional 101 shares during the period. Spartan Fund Management Inc. acquired a new stake in Chord Energy in the 3rd quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy during the 2nd quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Chord Energy by 125.9% during 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 period. Institutional investors own 97.76% of the company's stock.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company's stock, valued at approximately $2,155,485.67. This represents a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Chord Energy Trading Up 1.5 %

Shares of CHRD opened at $129.84 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The stock has a market capitalization of $7.94 billion, a P/E ratio of 6.69, a P/E/G ratio of 5.14 and a beta of 0.98. The business's 50-day moving average price is $131.00 and its 200 day moving average price is $153.33.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm's revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.04 EPS. Analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.85%. Chord Energy's payout ratio is presently 25.75%.

Analyst Ratings Changes

Several research firms recently weighed in on CHRD. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. BMO Capital Markets lowered their price objective on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company decreased their price target 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. Citigroup dropped their price objective on Chord Energy from $195.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Finally, 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 note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.45.

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.