Private Advisor Group LLC Boosts Stake in Chord Energy Co. (NASDAQ:CHRD)

Private Advisor Group LLC lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 330.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,512 shares of the company’s stock after purchasing an additional 4,230 shares during the quarter. Private Advisor Group LLC’s holdings in Chord Energy were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CHRD. GAMMA Investing LLC boosted its stake in shares of Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after buying an additional 97 shares during the period. UMB Bank n.a. grew its position in Chord Energy by 77.7% in the 3rd 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 last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the period. 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 valued at $712,000 after buying an additional 145 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $123.80 on Friday. The company has a 50-day moving average of $134.16 and a two-hundred day moving average of $158.13. The stock has a market cap of $7.66 billion, a P/E ratio of 6.01, a PEG ratio of 4.85 and a beta of 0.98. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

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

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 24.27%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. UBS Group started coverage on Chord Energy in a research report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

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.