Gulf International Bank UK Ltd Cuts Stake in Chord Energy Co. (NASDAQ:CHRD)

Gulf International Bank UK Ltd reduced its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,661 shares of the company’s stock after selling 280 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Chord Energy were worth $346,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. UMB Bank n.a. lifted its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in Chord Energy during the 3rd quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy in the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake 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 purchasing an additional 136 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was purchased 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 in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Down 0.6 %

NASDAQ:CHRD opened at $132.01 on Friday. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The business has a fifty day moving average price of $132.26 and a 200-day moving average price of $156.16. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 5.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 14.12% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $5.04 EPS. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. Sell-side analysts forecast that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Wall Street Analyst Weigh In

Several research firms recently commented on CHRD. BMO Capital Markets dropped their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company reduced their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial lowered their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. Finally, Wolfe Research assumed coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.18.

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.