Verition Fund Management LLC Sells 13,094 Shares of Chord Energy Co. (NASDAQ:CHRD)

Verition Fund Management LLC cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 52.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,950 shares of the company's stock after selling 13,094 shares during the period. Verition Fund Management LLC's holdings in Chord Energy were worth $1,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. Captrust Financial Advisors boosted its holdings in shares of Chord Energy by 721.9% in the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company's stock valued at $18,986,000 after acquiring an additional 128,047 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in Chord Energy during the 3rd quarter valued at $207,000. Stone House Investment Management LLC acquired a new position in shares of Chord Energy during the 3rd quarter valued at $26,000. Cynosure Group LLC increased its position in shares of Chord Energy by 75.0% during the 3rd quarter. Cynosure Group LLC now owns 7,968 shares of the company's stock valued at $1,038,000 after purchasing an additional 3,415 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Chord Energy by 55.7% in the 3rd quarter. Townsquare Capital LLC now owns 2,199 shares of the company's stock worth $286,000 after buying an additional 787 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. 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 for the company. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Piper Sandler increased their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday, August 21st. Finally, UBS Group assumed coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a "buy" rating and a $168.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $188.45.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $4.51 on Friday, reaching $117.20. The stock had a trading volume of 918,387 shares, compared to its average volume of 993,852. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a fifty-two week low of $115.96 and a fifty-two week high of $190.23. The business's 50-day moving average price is $129.22 and its two-hundred day moving average price is $148.82. The stock has a market cap of $7.16 billion, a P/E ratio of 6.04, a price-to-earnings-growth ratio of 4.91 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $5.04 EPS. The business's quarterly revenue was up 33.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 4.27%. The ex-dividend date is Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

About Chord Energy

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.