Crossmark Global Holdings Inc. Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Crossmark Global Holdings Inc. grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 58.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,769 shares of the company’s stock after purchasing an additional 2,131 shares during the period. Crossmark Global Holdings Inc.’s holdings in Chord Energy were worth $751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after buying an additional 741,705 shares during the last quarter. Boston Partners raised its holdings in shares of Chord Energy by 107.0% in the first 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 during the period. Millennium Management LLC lifted its stake in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares during the last quarter. Finally, KGH Ltd boosted its holdings in Chord Energy by 872.0% during the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after acquiring an additional 435,998 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CHRD. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Finally, UBS Group initiated coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The trade was a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Down 2.8 %

Shares of NASDAQ CHRD opened at $127.28 on Friday. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The business has a fifty day moving average price of $131.20 and a 200 day moving average price of $154.45. The stock has a market capitalization of $7.78 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 5.07 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 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 firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $5.04 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities research analysts expect that Chord Energy Co. will post 16.87 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

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.