Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 58.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,825 shares of the company’s stock after buying an additional 11,321 shares during the quarter. Empowered Funds LLC’s holdings in Chord Energy were worth $4,014,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. grew its position in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Chord Energy by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 45,425 shares of the company’s stock worth $5,916,000 after acquiring an additional 6,120 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Chord Energy by 0.7% in 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 in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Chord Energy in the third quarter valued at about $218,000. Finally, United Capital Management of KS Inc. boosted its holdings in 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 buying an additional 1,190 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Down 2.8 %

Shares of CHRD stock opened at $127.28 on Monday. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm’s 50 day moving average price is $131.20 and its two-hundred day moving average price is $154.15. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98. 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 (NASDAQ:CHRD) last announced its quarterly 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company posted $5.04 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, analysts anticipate that Chord Energy Co. will post 16.8 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.93%. Chord Energy’s payout ratio is currently 25.75%.

Insider Buying and Selling

In other news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Piper Sandler upped their target price on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company cut their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Bank of America increased their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $190.18.

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.