Moody Aldrich Partners LLC Sells 27,422 Shares of Chord Energy Co. (NASDAQ:CHRD)

Moody Aldrich Partners LLC reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 94.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,750 shares of the company’s stock after selling 27,422 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Chord Energy were worth $228,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. UMB Bank n.a. boosted its position in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new position in shares of Chord Energy during the 3rd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the 2nd quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Chord Energy by 125.9% in 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 in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CHRD shares. Wells Fargo & Company dropped their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Trading Down 0.6 %

NASDAQ:CHRD opened at $127.67 on Friday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 6.20, a PEG ratio of 5.04 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average price is $137.09 and its 200-day moving average price is $160.62. Chord Energy Co. has a 52 week low of $126.38 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter in the prior year, the business posted $3.65 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities research analysts forecast that Chord Energy Co. will post 17.07 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.92%. Chord Energy’s payout ratio is 24.27%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by insiders.

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.