Fisher Asset Management LLC Sells 863 Shares of Chord Energy Co. (NASDAQ:CHRD)

Fisher Asset Management LLC reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 84,777 shares of the company’s stock after selling 863 shares during the period. Fisher Asset Management LLC’s holdings in Chord Energy were worth $11,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CHRD. Hexagon Capital Partners LLC increased its holdings in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares during the last quarter. UMB Bank n.a. boosted its position in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy in the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the period. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy during the 3rd quarter valued at approximately $34,000. 97.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CHRD shares. BMO Capital Markets lowered their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler increased their price objective on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wells Fargo & Company reduced their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group began coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective for the company. Two investment 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $126.43 on Thursday. The company’s fifty day moving average price is $130.74 and its 200-day moving average price is $151.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 5.23 and a beta of 0.98. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $5.04 EPS. The firm’s revenue was up 33.4% compared to the same quarter last year. On average, equities research 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 disclosed 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 is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.95%. Chord Energy’s dividend payout ratio is 25.75%.

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.