Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 288.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,533 shares of the company’s stock after purchasing an additional 1,138 shares during the period. Covestor Ltd’s holdings in Chord Energy were worth $236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHRD. FORA Capital LLC acquired a new position in Chord Energy in the first quarter valued at approximately $1,139,000. ProShare Advisors LLC raised its position in Chord Energy by 37.8% in the first quarter. ProShare Advisors LLC now owns 7,366 shares of the company’s stock valued at $991,000 after purchasing an additional 2,019 shares during the period. Janney Montgomery Scott LLC raised its position in Chord Energy by 169.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,356 shares of the company’s stock valued at $978,000 after purchasing an additional 4,000 shares during the period. New Mexico Educational Retirement Board increased its position in shares of Chord Energy by 14.9% during the second quarter. New Mexico Educational Retirement Board now owns 8,500 shares of the company’s stock worth $1,307,000 after acquiring an additional 1,100 shares during the period. Finally, Shelton Capital Management purchased a new stake in shares of Chord Energy during the first quarter worth $281,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CHRD shares. Piper Sandler lifted their price objective on Chord Energy from $206.00 to $209.00 and gave the company an “overweight” rating in a research note on Thursday, November 16th. Mizuho lifted their price objective on shares of Chord Energy from $180.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. Stifel Nicolaus lowered their target price on shares of Chord Energy from $185.00 to $183.00 and set a “buy” rating for the company in a research note on Monday. Bank of America boosted their target price on shares of Chord Energy from $169.00 to $177.00 in a research note on Wednesday, September 27th. Finally, Citigroup boosted their target price on shares of Chord Energy from $170.00 to $185.00 in a research note on Friday, August 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $187.40.

Insider Buying and Selling

In related news, COO Charles J. Rimer sold 1,500 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $163.46, for a total transaction of $245,190.00. Following the completion of the transaction, the chief operating officer now directly owns 86,773 shares of the company’s stock, valued at $14,183,914.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $159.05, for a total transaction of $477,150.00. Following the transaction, the director now directly owns 223,098 shares in the company, valued at $35,483,736.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Charles J. Rimer sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $163.46, for a total transaction of $245,190.00. Following the transaction, the chief operating officer now owns 86,773 shares in the company, valued at $14,183,914.58. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $1,963,575 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD traded down $1.75 during trading hours on Tuesday, hitting $159.99. The company had a trading volume of 99,841 shares, compared to its average volume of 520,673. The business has a 50 day moving average of $162.80 and a 200-day moving average of $156.11. Chord Energy Co. has a 1-year low of $117.05 and a 1-year high of $175.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.02. The company has a market cap of $6.60 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.42 and a beta of 1.28.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 1st. The company reported $5.04 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.18). Chord Energy had a net margin of 27.86% and a return on equity of 16.74%. The business had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $763.94 million. During the same period in the previous year, the company posted $7.20 earnings per share. Chord Energy’s quarterly revenue was down 20.4% on a year-over-year basis. As a group, equities research analysts expect that Chord Energy Co. will post 19.56 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $5.00 annualized dividend and a yield of 3.13%. Chord Energy’s dividend payout ratio is currently 19.81%.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.