Victory Capital Management Inc. Grows Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Victory Capital Management Inc. grew its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,245,435 shares of the company's stock after purchasing an additional 656,374 shares during the quarter. Victory Capital Management Inc. owned approximately 3.63% of Chord Energy worth $292,423,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CHRD. Janney Montgomery Scott LLC raised its holdings in Chord Energy by 7.9% during the first quarter. Janney Montgomery Scott LLC now owns 7,045 shares of the company's stock worth $1,256,000 after buying an additional 514 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Chord Energy by 31.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,496 shares of the company's stock worth $623,000 after buying an additional 846 shares during the last quarter. Quantbot Technologies LP acquired a new position in Chord Energy during the first quarter worth $884,000. Empowered Funds LLC raised its holdings in Chord Energy by 4.1% during the first quarter. Empowered Funds LLC now owns 12,231 shares of the company's stock worth $2,180,000 after buying an additional 487 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Chord Energy by 50.1% during the first quarter. SG Americas Securities LLC now owns 4,687 shares of the company's stock worth $835,000 after buying an additional 1,565 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction 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 trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded down $3.07 during trading on Tuesday, hitting $128.60. 740,411 shares of the company were exchanged, compared to its average volume of 882,610. The company has a market cap of $7.96 billion, a PE ratio of 6.62, a P/E/G ratio of 5.12 and a beta of 0.98. The stock has a 50 day moving average of $131.67 and a 200 day moving average of $155.19. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted 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 for 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 company's revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.04 EPS. As a group, equities research analysts predict that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.89%. Chord Energy's payout ratio is currently 25.75%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Chord Energy from $206.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a report on Monday, September 30th. BMO Capital Markets lowered their target price on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, UBS Group started coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a "buy" rating and a $168.00 target price for the company. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.18.

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.