Fisher Asset Management LLC Has $11.04 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Fisher Asset Management LLC reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,777 shares of the company’s stock after selling 863 shares during the quarter. Fisher Asset Management LLC owned about 0.14% of Chord Energy worth $11,041,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. UMB Bank n.a. grew its holdings in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the second quarter valued at $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the period. Finally, Spartan Fund Management Inc. bought a new position in shares of Chord Energy during the 3rd quarter worth about $34,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of research reports. Piper Sandler upped their price target on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Royal Bank of Canada dropped 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 note on Wednesday, November 20th. Finally, UBS Group started coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price for the company. Two equities 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Price Performance

Chord Energy stock opened at $126.43 on Thursday. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The company’s 50 day moving average price is $130.74 and its two-hundred day moving average price is $151.78. The stock has a market cap of $7.73 billion, a P/E ratio of 6.51, a P/E/G ratio of 5.23 and a beta of 0.98. 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.04 earnings per share. On average, equities analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

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

About Chord Energy

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.