Cetera Investment Advisers Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Cetera Investment Advisers increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 165.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,124 shares of the company’s stock after buying an additional 15,645 shares during the quarter. Cetera Investment Advisers owned 0.06% of Chord Energy worth $4,213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Chord Energy in the first quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy in the second quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC raised its stake in Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares during the period. Finally, Atlas Capital Advisors LLC bought a new stake in Chord Energy during the 2nd quarter worth approximately $60,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America raised their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. BMO Capital Markets reduced their price objective 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. Jefferies Financial Group assumed coverage on shares of 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, Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $192.40.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Chord Energy Trading Down 0.1 %

CHRD stock opened at $133.25 on Thursday. The firm has a fifty day moving average price of $142.35 and a 200 day moving average price of $164.21. Chord Energy Co. has a fifty-two week low of $126.96 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The firm has a market cap of $5.56 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97.

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

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.75%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

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.