Quest Partners LLC Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Quest Partners LLC lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 718,700.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,188 shares of the company’s stock after buying an additional 7,187 shares during the period. Quest Partners LLC’s holdings in Chord Energy were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of Chord Energy by 0.6% in the 3rd quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after buying an additional 1,100 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Chord Energy by 58.0% in the 3rd quarter. Empowered Funds LLC now owns 30,825 shares of the company’s stock worth $4,014,000 after buying an additional 11,321 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Chord Energy by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 45,425 shares of the company’s stock worth $5,916,000 after buying an additional 6,120 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Chord Energy by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company’s stock valued at $15,272,000 after purchasing an additional 792 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

NASDAQ:CHRD opened at $129.84 on Thursday. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $131.00 and its two-hundred day simple moving average is $153.33. The stock has a market cap of $7.94 billion, a PE ratio of 6.69, a P/E/G ratio of 5.02 and a beta of 0.98.

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

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.85%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy 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 completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 3.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several analyst reports. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group initiated coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. 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. Finally, Piper Sandler lifted their target price on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.45.

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.