Point72 Hong Kong Ltd Purchases Shares of 15,060 Chord Energy Co. (NASDAQ:CHRD)

Point72 Hong Kong Ltd acquired a new position in Chord Energy Co. (NASDAQ:CHRD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 15,060 shares of the company’s stock, valued at approximately $1,961,000.

Several other institutional investors have also modified their holdings of CHRD. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy during the second quarter worth approximately $4,426,000. Victory Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 656,374 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after acquiring an additional 52,835 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Chord Energy during the second quarter worth $2,515,000. Finally, Foundry Partners LLC lifted its holdings in shares of Chord Energy by 22.7% during 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. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 0.9 %

Shares of Chord Energy stock opened at $127.52 on Monday. The stock has a 50-day simple moving average of $130.17 and a 200-day simple moving average of $150.62. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 5.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.26 billion. During the same quarter last year, the company earned $5.04 EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, equities research analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.92%. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Ratings Changes

Several research firms have issued reports on CHRD. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Piper Sandler upped their price target on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. UBS Group started coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective on the stock. BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Two investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Company 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.