Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 21.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,655 shares of the company’s stock after selling 14,918 shares during the quarter. Citigroup Inc.’s holdings in Chord Energy were worth $7,118,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. UMB Bank n.a. lifted its position in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the second quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. boosted its holdings 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 purchasing an additional 136 shares in the last quarter. Finally, Spartan Fund Management Inc. acquired a new position in Chord Energy during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial decreased their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. UBS Group assumed coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, BMO Capital Markets dropped their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Stock Performance

Shares of CHRD opened at $127.52 on Friday. The company has a 50-day moving average of $130.17 and a two-hundred day moving average of $150.84. The stock has a market cap of $7.80 billion, a P/E ratio of 6.57, a PEG ratio of 5.07 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 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data 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). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.04 earnings per share. As a group, research analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be 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 is Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

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.