Pacer Advisors Inc. Purchases 1,230,985 Shares of Chord Energy Co. (NASDAQ:CHRD)

Pacer Advisors Inc. boosted its position in shares of Chord Energy Co. (NASDAQ:CHRDFree Report) by 8,762.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,245,034 shares of the company’s stock after buying an additional 1,230,985 shares during the period. Pacer Advisors Inc. owned approximately 2.01% of Chord Energy worth $162,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. Dimensional Fund Advisors LP raised its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares during the period. Boston Partners raised its position in Chord Energy by 107.0% during the first 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 raised its position in Chord Energy by 226.5% during the second 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 period. Finally, KGH Ltd raised its position in Chord Energy by 872.0% during the second 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 period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Trading Up 1.5 %

NASDAQ:CHRD opened at $129.84 on Thursday. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The firm has a 50 day moving average of $131.00 and a 200 day moving average of $153.33. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 5.14 and a beta of 0.98.

Chord Energy (NASDAQ:CHRDGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $5.04 EPS. The company’s revenue was up 33.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.85%. Chord Energy’s payout ratio is 25.75%.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHRD shares. Truist Financial decreased their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Piper Sandler upped their target price on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

View Our Latest Research Report on Chord Energy

Chord Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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