HighTower Advisors LLC Purchases 2,522 Shares of Chord Energy Co. (NASDAQ:CHRD)

HighTower Advisors LLC increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 58.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,821 shares of the company’s stock after buying an additional 2,522 shares during the period. HighTower Advisors LLC’s holdings in Chord Energy were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in Chord Energy by 2.2% during the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after acquiring an additional 74,165 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Dimensional Fund Advisors LP lifted its position 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 purchasing an additional 741,705 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares during the period. Finally, American Century Companies Inc. grew 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 valued at $162,982,000 after buying an additional 113,618 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CHRD shares. Wells Fargo & Company increased their price objective on Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler reduced their target price on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $182.55.

Chord Energy Trading Down 0.9 %

Shares of CHRD opened at $115.09 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 4.79 and a beta of 0.96. The stock has a fifty day moving average price of $127.45 and a two-hundred day moving average price of $146.03. Chord Energy Co. has a 52-week low of $113.58 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted $5.04 EPS. The company’s revenue was up 33.4% compared to the same quarter last year. Analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.34%. Chord Energy’s payout ratio is 25.75%.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

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.