Mutual of America Capital Management LLC Sells 2,159 Shares of Chord Energy Co. (NASDAQ:CHRD)

Mutual of America Capital Management LLC reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 6.1% in the third quarter, HoldingsChannel reports. The firm owned 33,445 shares of the company’s stock after selling 2,159 shares during the period. Mutual of America Capital Management LLC’s holdings in Chord Energy were worth $4,356,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy in the second quarter worth approximately $4,426,000. Victory Capital Management Inc. increased its holdings in Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Bank of Montreal Can increased its holdings 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 purchasing an additional 52,835 shares in the last quarter. BOKF NA grew its stake in Chord Energy by 1,678.3% in the first quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after acquiring an additional 14,601 shares during the period. Finally, Caxton Associates LP acquired a new stake in Chord Energy in the second quarter valued at approximately $2,515,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 1.9 %

CHRD stock opened at $132.36 on Friday. The stock’s fifty day simple moving average is $131.00 and its two-hundred day simple moving average is $153.33. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The stock has a market cap of $8.09 billion, a P/E ratio of 6.82, a P/E/G ratio of 5.14 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm posted $5.04 EPS. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Analysts expect that Chord Energy Co. will post 16.5 EPS for the current 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 given a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.78%. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Ratings Changes

A number of equities research analysts have commented on CHRD shares. Wells Fargo & Company reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group started coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.45.

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.