Advisors Asset Management Inc. Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

Advisors Asset Management Inc. lifted its stake in Chord Energy Co. (NASDAQ:CHRD) by 502.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,659 shares of the company’s stock after buying an additional 11,393 shares during the quarter. Advisors Asset Management Inc.’s holdings in Chord Energy were worth $1,779,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Shell Asset Management Co. bought a new position in Chord Energy during the first quarter valued at $246,000. Price T Rowe Associates Inc. MD lifted its position in shares of Chord Energy by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company’s stock valued at $4,460,000 after buying an additional 1,586 shares during the last quarter. Comerica Bank lifted its position in shares of Chord Energy by 10.7% during the first quarter. Comerica Bank now owns 20,591 shares of the company’s stock valued at $3,670,000 after buying an additional 1,994 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Chord Energy by 319.1% in the 1st quarter. Cetera Investment Advisers now owns 9,479 shares of the company’s stock valued at $1,689,000 after purchasing an additional 7,217 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Chord Energy in the 1st quarter valued at approximately $444,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Piper Sandler raised their price objective on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two research 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, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

Chord Energy Stock Up 1.6 %

Shares of NASDAQ:CHRD opened at $134.43 on Monday. The business has a 50-day moving average price of $131.00 and a 200 day moving average price of $152.70. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 5.31 and a beta of 0.98. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $5.04 earnings per share. The business’s revenue was up 33.4% compared to the same quarter last year. Sell-side analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed 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. This represents a $5.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is currently 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.