Swiss National Bank Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Swiss National Bank raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 185,022 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Swiss National Bank’s holdings in Chord Energy were worth $24,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kraematon Investment Advisors Inc. bought a new stake in shares of Chord Energy during the 2nd quarter valued at $4,426,000. 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. Bank of Montreal Can increased its position in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares in the last quarter. BOKF NA raised its stake in shares of Chord Energy by 1,678.3% in the first quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after buying an additional 14,601 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Chord Energy during the 2nd quarter valued at about $2,515,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Up 1.9 %

Shares of Chord Energy stock opened at $132.36 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 5.14 and a beta of 0.98. Chord Energy Co. has a twelve month low of $123.30 and a twelve month high of $190.23. The business has a 50-day moving average price of $131.00 and a 200-day moving average price of $153.33.

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

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.78%. Chord Energy’s payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group started coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Two investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.45.

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.