Phocas Financial Corp. Sells 2,368 Shares of Chord Energy Co. (NASDAQ:CHRD)

Phocas Financial Corp. lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,584 shares of the company’s stock after selling 2,368 shares during the period. Phocas Financial Corp. owned 0.05% of Chord Energy worth $4,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Boston Partners raised its holdings in shares of Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares during the period. Millennium Management LLC lifted its stake in Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after purchasing an additional 483,144 shares during the last quarter. Finally, KGH Ltd lifted its stake in Chord Energy by 872.0% in the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after purchasing an additional 435,998 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHRD has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group initiated 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. Truist Financial lowered their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.27.

Chord Energy Trading Up 2.4 %

CHRD opened at $130.33 on Tuesday. The company’s 50 day moving average price is $131.20 and its two-hundred day moving average price is $154.15. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 5.02 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. 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 issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.04 EPS. As a group, research analysts predict that Chord Energy Co. will post 16.8 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 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.