KBC Group NV Decreases Stake in Chord Energy Co. (NASDAQ:CHRD)

KBC Group NV lowered its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.7% in the third quarter, HoldingsChannel.com reports. The firm owned 45,318 shares of the company’s stock after selling 790 shares during the quarter. KBC Group NV’s holdings in Chord Energy were worth $5,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Chord Energy by 2.8% in the 1st quarter. Russell Investments Group Ltd. now owns 36,811 shares of the company’s stock valued at $6,561,000 after purchasing an additional 1,002 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Chord Energy during the 1st quarter worth approximately $784,000. MQS Management LLC purchased a new stake in Chord Energy during the first quarter worth $306,000. Shell Asset Management Co. purchased a new stake in shares of Chord Energy in the 1st quarter worth about $246,000. Finally, Westwood Holdings Group Inc. grew its stake in Chord Energy by 28.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 137,411 shares of the company’s stock valued at $24,492,000 after acquiring an additional 30,077 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Down 2.8 %

Shares of CHRD stock opened at $127.28 on Monday. The firm’s 50-day simple moving average is $131.20 and its 200-day simple moving average is $154.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The firm has a market cap of $7.78 billion, a P/E ratio of 6.55, a PEG ratio of 5.02 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business earned $5.04 EPS. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities analysts forecast that Chord Energy Co. will post 16.8 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHRD. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company reduced their target price 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. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial reduced their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.18.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 3.59 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

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.