Sumitomo Mitsui Trust Group Inc. Purchases 792 Shares of Chord Energy Co. (NASDAQ:CHRD)

Sumitomo Mitsui Trust Group Inc. grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,273 shares of the company’s stock after purchasing an additional 792 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Chord Energy worth $15,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CHRD. Russell Investments Group Ltd. boosted its stake in shares of Chord Energy by 2.8% in the 1st quarter. Russell Investments Group Ltd. now owns 36,811 shares of the company’s stock valued at $6,561,000 after purchasing an additional 1,002 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Chord Energy in the 1st quarter worth approximately $784,000. MQS Management LLC acquired a new position in shares of Chord Energy in the 1st quarter worth approximately $306,000. Shell Asset Management Co. acquired a new position in shares of Chord Energy in the 1st quarter worth approximately $246,000. Finally, Westwood Holdings Group Inc. lifted its position in shares of Chord Energy by 28.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 137,411 shares of the company’s stock worth $24,492,000 after purchasing an additional 30,077 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHRD. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Piper Sandler boosted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Bank of America lifted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Two 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.18.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Chord Energy Stock Performance

Shares of CHRD stock opened at $127.28 on Monday. The firm has a market capitalization of $7.78 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98. The firm has a fifty day simple moving average of $131.20 and a two-hundred day simple moving average of $154.15. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $123.30 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company earned $5.04 EPS. The business’s revenue was up 33.4% compared to the same quarter last year. Analysts forecast that Chord Energy Co. will post 16.8 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared 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 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

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.