Advisors Asset Management Inc. Purchases 11,393 Shares of Chord Energy Co. (NASDAQ:CHRD)

Advisors Asset Management Inc. grew its position in Chord Energy Co. (NASDAQ:CHRD) by 502.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,659 shares of the company’s stock after acquiring an additional 11,393 shares during the period. Advisors Asset Management Inc.’s holdings in Chord Energy were worth $1,779,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 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 period. Spartan Fund Management Inc. acquired a new position in shares of Chord Energy in the 3rd quarter valued at $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy in the 2nd quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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. Institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CHRD shares. BMO Capital Markets reduced 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 note on Friday, October 4th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial dropped their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Piper Sandler upped their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, UBS Group initiated coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price on the stock. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $134.43 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $131.00 and its 200-day moving average price is $152.70. The firm has a market capitalization of $8.22 billion, a P/E ratio of 6.92, a P/E/G ratio of 5.31 and a beta of 0.98. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its 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). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.04 earnings per share. Equities research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

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.