Chord Energy Co. (NASDAQ:CHRD) Stock Position Boosted by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,821 shares of the company’s stock after buying an additional 2,522 shares during the quarter. HighTower Advisors LLC’s holdings in Chord Energy were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Chord Energy by 8,762.1% in the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after buying an additional 1,230,985 shares during the period. Finally, American Century Companies Inc. boosted its stake in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average price target of $182.55.

Chord Energy Stock Performance

CHRD stock opened at $115.09 on Wednesday. The stock has a market cap of $7.04 billion, a P/E ratio of 5.91, a P/E/G ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a 50 day simple moving average of $127.45 and a 200 day simple moving average of $146.03. Chord Energy Co. has a 52 week low of $113.58 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s revenue was up 33.4% compared to the same quarter last year. During the same period last year, the company posted $5.04 earnings per share. Research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.34%. Chord Energy’s dividend 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.