Principal Financial Group Inc. Has $63.23 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Principal Financial Group Inc. decreased its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 485,514 shares of the company's stock after selling 23,821 shares during the period. Principal Financial Group Inc. owned 0.78% of Chord Energy worth $63,229,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its position in Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock worth $54,000 after buying an additional 97 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Chord Energy by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock worth $3,552,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. lifted its position in Chord Energy by 77.7% in 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. Benjamin F. Edwards & Company Inc. boosted its stake in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock valued at $41,000 after purchasing an additional 136 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Chord Energy by 2.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company's stock worth $712,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $0.85 during trading hours on Friday, hitting $132.01. 812,293 shares of the company's stock traded hands, compared to its average volume of 848,367. The company's fifty day simple moving average is $132.26 and its two-hundred day simple moving average is $155.97. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth 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 0.91 and a current ratio of 0.93. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business 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 for the quarter was up 33.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.04 earnings per share. As a group, equities analysts anticipate that Chord Energy Co. will post 17.07 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business 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 $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, November 27th. Chord Energy's payout ratio is 25.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price target on Chord Energy from $206.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They set a "hold" rating and a $160.00 target price on the stock. 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. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.18.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company's stock, valued at $2,155,485.67. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company's stock.

Chord Energy Company 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.