Moody Aldrich Partners LLC Reduces Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Moody Aldrich Partners LLC cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 94.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,750 shares of the company’s stock after selling 27,422 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Chord Energy were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Fortem Financial Group LLC boosted its holdings in Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC boosted its stake in Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after buying an additional 97 shares during the period. UMB Bank n.a. boosted its stake in 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 buying an additional 101 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Chord Energy by 2.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after acquiring an additional 145 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. 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. Piper Sandler increased their price target on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Bank of America lifted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. 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 company. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Performance

Chord Energy stock opened at $127.67 on Friday. The firm has a fifty day simple moving average of $137.09 and a two-hundred day simple moving average of $160.62. 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 twelve month low of $126.38 and a twelve month high of $190.23. The company has a market capitalization of $7.90 billion, a PE ratio of 6.20, a P/E/G ratio of 5.04 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same period last year, the firm posted $3.65 EPS. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 24.27%.

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.