Signaturefd LLC Reduces Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Signaturefd LLC decreased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 8.8% in the third quarter, HoldingsChannel.com reports. The fund owned 2,869 shares of the company’s stock after selling 278 shares during the period. Signaturefd LLC’s holdings in Chord Energy were worth $374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its stake in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares during the period. UMB Bank n.a. lifted its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the second quarter valued at $40,000. Benjamin F. Edwards & Company Inc. lifted its position in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the period. Finally, GAMMA Investing LLC lifted its position in Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CHRD shares. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company lowered their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Citigroup lowered their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. UBS Group started coverage on Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Piper Sandler raised their price objective on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Two 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 company. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now 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 SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Chord Energy Price Performance

NASDAQ CHRD opened at $128.85 on Friday. Chord Energy Co. has a one year low of $126.38 and a one year high of $190.23. The stock has a 50-day moving average of $136.61 and a 200 day moving average of $160.24. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 5.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last released 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). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the business posted $3.65 earnings per share. Chord Energy’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.88%. Chord Energy’s payout ratio is 24.27%.

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.