Chord Energy Co. (NASDAQ:CHRD) Stake Lifted by UMB Bank n.a.

UMB Bank n.a. raised its stake in Chord Energy Co. (NASDAQ:CHRD) by 77.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 231 shares of the company’s stock after buying an additional 101 shares during the quarter. UMB Bank n.a.’s holdings in Chord Energy were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after buying an additional 1,269,658 shares during the last quarter. Boston Partners grew its holdings in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after buying an additional 674,965 shares in the last quarter. American Century Companies Inc. increased its position 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 acquiring an additional 113,618 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after acquiring an additional 165,196 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

CHRD opened at $126.50 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.27 billion, a PE ratio of 5.94, a P/E/G ratio of 4.92 and a beta of 0.97. The business has a fifty day simple moving average of $140.88 and a 200-day simple moving average of $163.26. Chord Energy Co. has a fifty-two week low of $126.38 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results 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). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the business earned $3.65 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities analysts predict that Chord Energy Co. will post 17.93 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.95%. Chord Energy’s dividend payout ratio is currently 23.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHRD shares. Wolfe Research started coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America boosted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Truist Financial decreased their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.90.

Insider Activity at Chord Energy

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

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.