Covestor Ltd Acquires 135 Shares of Chord Energy Co. (NASDAQ:CHRD)

Covestor Ltd lifted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 21.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 767 shares of the company’s stock after acquiring an additional 135 shares during the period. Covestor Ltd’s holdings in Chord Energy were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. UMB Bank n.a. lifted its holdings in shares of 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 buying an additional 101 shares in the last quarter. Spartan Fund Management Inc. bought a new position in shares of Chord Energy during the third quarter worth $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the second quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CHRD shares. Jefferies Financial Group assumed coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Piper Sandler raised their price target on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report 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 began coverage on shares of Chord Energy in a research note 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $128.60 on Wednesday. The stock has a market cap of $7.96 billion, a PE ratio of 6.62, a P/E/G ratio of 5.12 and a beta of 0.98. Chord Energy Co. has a 12 month low of $123.30 and a 12 month high of $190.23. The company has a 50-day moving average price of $131.67 and a 200 day moving average price of $155.19. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last announced its earnings results 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 net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $5.04 EPS. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. Equities research analysts anticipate that Chord Energy Co. will post 17.07 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm 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 $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.89%. Chord Energy’s payout ratio is 25.75%.

Chord Energy 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.