Northwest & Ethical Investments L.P. Sells 869 Shares of Chord Energy Co. (NASDAQ:CHRD)

Northwest & Ethical Investments L.P. trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 68.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400 shares of the company’s stock after selling 869 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Chord Energy were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kraematon Investment Advisors Inc. acquired a new position in Chord Energy during the 2nd quarter worth $4,426,000. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Bank of Montreal Can lifted its position in shares of Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after purchasing an additional 52,835 shares during the last quarter. Caxton Associates LP bought a new stake in Chord Energy during the 2nd quarter valued at approximately $2,515,000. Finally, Foundry Partners LLC boosted its stake in Chord Energy by 22.7% during the 3rd 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 period. 97.76% of the stock is owned by institutional investors.

Chord Energy Trading Up 0.9 %

Shares of Chord Energy stock opened at $127.52 on Monday. The firm has a market capitalization of $7.80 billion, a PE ratio of 6.57, a price-to-earnings-growth 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. The company’s fifty day moving average price is $130.17 and its two-hundred day moving average price is $150.62. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm earned $5.04 EPS. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy’s dividend payout ratio is presently 25.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America upped their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Piper Sandler increased their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.45.

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.