Blue Trust Inc. increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD – Free Report) by 33.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,589 shares of the company’s stock after acquiring an additional 397 shares during the quarter. Blue Trust Inc.’s holdings in Chord Energy were worth $283,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of Chord Energy by 35.4% during the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $6,403,000 after buying an additional 10,075 shares during the last quarter. Kraematon Investment Advisors Inc. acquired a new stake in Chord Energy during the 2nd quarter worth approximately $4,426,000. Capital Fund Management S.A. boosted its stake in Chord Energy by 252.9% in the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after purchasing an additional 31,484 shares during the period. LSV Asset Management acquired a new position in Chord Energy in the 4th quarter valued at $16,549,000. Finally, Sei Investments Co. lifted its holdings in shares of Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CHRD. Mizuho increased their price target on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets started coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Citigroup decreased their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.
View Our Latest Stock Analysis on CHRD
Chord Energy Trading Down 0.8 %
NASDAQ CHRD opened at $153.10 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.92 and a beta of 1.01. Chord Energy Co. has a one year low of $145.53 and a one year high of $190.23. The business’s fifty day moving average is $166.38 and its 200-day moving average is $170.16.
Chord Energy (NASDAQ:CHRD – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same period last year, the company earned $3.65 earnings per share. Chord Energy’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts predict that Chord Energy Co. will post 20.85 EPS for the current year.
Chord Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.27%. Chord Energy’s dividend payout ratio is currently 23.46%.
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.
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