The Manufacturers Life Insurance Company Acquires 352 Shares of Chord Energy Co. (NASDAQ:CHRD)

The Manufacturers Life Insurance Company lifted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 186,309 shares of the company’s stock after buying an additional 352 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chord Energy were worth $24,263,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Qsemble Capital Management LP bought a new position in shares of Chord Energy during the third quarter valued at about $782,000. Daiwa Securities Group Inc. boosted its holdings in Chord Energy by 4.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock valued at $599,000 after acquiring an additional 200 shares during the period. Kingsview Wealth Management LLC grew its position in Chord Energy by 193.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 14,001 shares of the company’s stock worth $1,823,000 after acquiring an additional 9,231 shares during the last quarter. Pacer Advisors Inc. increased its stake in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares during the period. Finally, Foundry Partners LLC lifted its position in Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. UBS Group began coverage on shares of Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price for the company. Finally, Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Trading Up 0.9 %

CHRD opened at $127.52 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The stock has a market cap of $7.80 billion, a PE ratio of 6.57, a PEG ratio of 5.07 and a beta of 0.98. The business has a 50 day moving average of $130.17 and a 200-day moving average of $150.84.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion for 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 business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 EPS. Equities research analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 3.92%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 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.