Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 64.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,285 shares of the company’s stock after purchasing an additional 22,478 shares during the quarter. Edgestream Partners L.P.’s holdings in Chord Energy were worth $7,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its stake in Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares during the period. Dimensional Fund Advisors LP raised 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 purchasing an additional 741,705 shares in the last quarter. Millennium Management LLC lifted its holdings in Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after purchasing an additional 483,144 shares during the period. Finally, KGH Ltd grew its position in Chord Energy by 872.0% in the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after buying an additional 435,998 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Trading Up 0.9 %

Shares of CHRD opened at $127.52 on Friday. The business’s 50-day moving average price is $130.17 and its 200 day moving average price is $151.06. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.80 billion, a P/E ratio of 6.57, a P/E/G ratio of 5.07 and a beta of 0.98. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $5.04 EPS. The firm’s revenue was up 33.4% compared to the same quarter last year. Analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 3.92%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHRD shares. 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 research report on Friday, October 4th. Truist Financial dropped their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Piper Sandler raised their target price on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average price target of $188.45.

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.