UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,047 Shares of Chord Energy Co. (NASDAQ:CHRD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,160 shares of the company’s stock after selling 1,047 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Chord Energy worth $19,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CHRD. Cetera Investment Advisers lifted its stake in Chord Energy by 319.1% in the 1st quarter. Cetera Investment Advisers now owns 9,479 shares of the company’s stock valued at $1,689,000 after purchasing an additional 7,217 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Chord Energy in the 1st quarter valued at $444,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Chord Energy during the 1st quarter valued at $72,000. GAMMA Investing LLC grew its position in Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Chord Energy by 172.1% in the 2nd quarter. SG Americas Securities LLC now owns 12,755 shares of the company’s stock worth $2,139,000 after purchasing an additional 8,068 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHRD shares. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial dropped their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Citigroup reduced their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. 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 stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Stock Performance

Chord Energy stock opened at $121.71 on Friday. Chord Energy Co. has a fifty-two week low of $121.54 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $7.44 billion, a P/E ratio of 6.27, a price-to-earnings-growth ratio of 5.12 and a beta of 0.96. The firm’s fifty day moving average price is $129.49 and its 200-day moving average price is $149.49.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business 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%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period last year, the company posted $5.04 EPS. On average, equities research analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is 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.