The Manufacturers Life Insurance Company Decreases Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

The Manufacturers Life Insurance Company lowered its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 25.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,957 shares of the company’s stock after selling 63,447 shares during the period. The Manufacturers Life Insurance Company owned about 0.45% of Chord Energy worth $31,181,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the 2nd quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. raised its position in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after buying an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy during the second quarter valued at approximately $60,000. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a research note on Friday, September 20th. Citigroup decreased their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average price target of $198.30.

Chord Energy Trading Down 0.4 %

Chord Energy stock opened at $130.23 on Tuesday. Chord Energy Co. has a 12 month low of $126.96 and a 12 month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $148.46 and its two-hundred day simple moving average is $166.15. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.65 earnings per share. As a group, equities analysts predict that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

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.