Exchange Traded Concepts LLC Increases Holdings in Chord Energy Co. (NASDAQ:CHRD)

Exchange Traded Concepts LLC lifted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,145 shares of the company’s stock after acquiring an additional 110 shares during the period. Exchange Traded Concepts LLC’s holdings in Chord Energy were worth $718,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Delta Capital Management LLC grew its holdings in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after buying an additional 90 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chord Energy by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. Commerce Bank lifted its stake in Chord Energy by 4.3% in the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $116.77 on Thursday. Chord Energy Co. has a 52 week low of $109.59 and a 52 week high of $190.23. The company has a market capitalization of $7.14 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 6.35 and a beta of 0.99. The stock’s fifty day moving average is $120.78 and its two-hundred day moving average is $134.84. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last posted 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). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.04 EPS. As a group, analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.28%. Chord Energy’s payout ratio is 25.75%.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company decreased their price objective on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. UBS Group cut 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 decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three 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, the company has an average rating of “Moderate Buy” and an average price target of $173.08.

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.