Cornercap Investment Counsel Inc. Has $810,000 Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Cornercap Investment Counsel Inc. lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 56.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,218 shares of the company’s stock after selling 8,225 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Chord Energy were worth $810,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in Chord Energy by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 45,425 shares of the company’s stock worth $5,916,000 after purchasing an additional 6,120 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Chord Energy by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company’s stock worth $15,272,000 after acquiring an additional 792 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Chord Energy during the third quarter worth $218,000. Finally, United Capital Management of KS Inc. raised its holdings in shares of Chord Energy by 5.6% during the third quarter. United Capital Management of KS Inc. now owns 22,374 shares of the company’s stock worth $2,914,000 after acquiring an additional 1,190 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets lowered their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Truist Financial decreased their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, UBS Group assumed coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Insiders Place Their Bets

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

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $127.28 on Friday. The firm has a 50 day moving average of $131.20 and a 200-day moving average of $154.45. The stock has a market capitalization of $7.78 billion, a PE ratio of 6.55, a PEG ratio of 5.07 and a beta of 0.98. 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 Co. has a 12 month low of $123.30 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last released 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 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%. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.04 earnings per share. On average, equities research analysts predict that Chord Energy Co. will post 16.87 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. 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.