The Manufacturers Life Insurance Company Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

The Manufacturers Life Insurance Company grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 186,309 shares of the company’s stock after acquiring an additional 352 shares during the period. The Manufacturers Life Insurance Company owned about 0.30% of Chord Energy worth $24,263,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the period. Pacer Advisors Inc. grew its stake in shares of Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after acquiring an additional 1,230,985 shares during the period. American Century Companies Inc. increased its holdings in Chord Energy by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after acquiring an additional 113,618 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after acquiring an additional 165,196 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.9 %

CHRD stock opened at $127.52 on Friday. The company’s 50 day moving average is $130.17 and its 200 day moving average is $150.84. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 6.57, a price-to-earnings-growth ratio of 5.07 and a beta of 0.98. 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 1-year low of $123.30 and a 1-year high of $190.23.

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

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.92%. Chord Energy’s payout ratio is 25.75%.

Analyst Ratings Changes

CHRD has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. UBS Group began coverage on Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price on the stock. Piper Sandler lifted their price target on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Citigroup dropped their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy 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.