National Bank of Canada FI Purchases 7,746 Shares of Chord Energy Co. (NASDAQ:CHRD)

National Bank of Canada FI increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 5,164.0% during the second quarter, HoldingsChannel.com reports. The fund owned 7,896 shares of the company’s stock after acquiring an additional 7,746 shares during the period. National Bank of Canada FI’s holdings in Chord Energy were worth $1,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CHRD. First Trust Advisors LP grew its position in shares of Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares in the last quarter. Boston Partners boosted its stake in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the period. Bank of New York Mellon Corp grew its position in Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock worth $127,747,000 after buying an additional 165,196 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Chord Energy by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock worth $111,468,000 after acquiring an additional 21,399 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Chord Energy by 4.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 558,329 shares of the company’s stock worth $93,621,000 after acquiring an additional 26,185 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD opened at $132.72 on Friday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 4.54 and a beta of 0.99. The company has a 50-day simple moving average of $157.72 and a two-hundred day simple moving average of $168.49. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy Co. has a 12-month low of $129.75 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the business earned $3.65 earnings per share. Chord Energy’s revenue was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy Co. will post 19.61 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHRD. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Truist Financial cut their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research assumed coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

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.