Commerce Bank Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

Commerce Bank boosted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,361 shares of the company’s stock after purchasing an additional 98 shares during the quarter. Commerce Bank’s holdings in Chord Energy were worth $307,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its holdings in shares of Chord Energy by 9.6% during the third quarter. Segall Bryant & Hamill LLC now owns 85,746 shares of the company’s stock valued at $11,167,000 after acquiring an additional 7,514 shares in the last quarter. Beddow Capital Management Inc. purchased a new stake in Chord Energy during the 3rd quarter valued at about $522,000. Lindenwold Advisors INC grew its position in Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock valued at $329,000 after purchasing an additional 119 shares during the last quarter. Quest Partners LLC grew its position in Chord Energy by 718,700.0% during the 3rd quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock valued at $936,000 after purchasing an additional 7,187 shares during the last quarter. Finally, Swiss National Bank grew its position in Chord Energy by 0.6% during the 3rd quarter. Swiss National Bank now owns 185,022 shares of the company’s stock valued at $24,095,000 after purchasing an additional 1,100 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Bank of America increased 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. Royal Bank of Canada cut their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Citigroup cut their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Two equities 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Price Performance

NASDAQ CHRD opened at $126.43 on Thursday. Chord Energy Co. has a 12 month low of $123.30 and a 12 month high of $190.23. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 5.23 and a beta of 0.98. The company’s 50 day moving average is $130.74 and its two-hundred day moving average is $151.78. 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 (NASDAQ:CHRD) last released its quarterly earnings data 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). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.04 EPS. As a group, research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

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.