National Bank of Canada FI Cuts Holdings in Chord Energy Co. (NASDAQ:CHRD)

National Bank of Canada FI lowered its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 18.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,408 shares of the company’s stock after selling 1,488 shares during the period. National Bank of Canada FI’s holdings in Chord Energy were worth $835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after buying an additional 74,165 shares during the last quarter. State Street Corp lifted its holdings in shares of Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after acquiring an additional 22,753 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHRD. Truist Financial reduced their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets decreased their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Bank of America increased their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $187.82.

Chord Energy Stock Performance

Shares of CHRD opened at $119.28 on Friday. The company has a 50-day simple moving average of $127.88 and a two-hundred day simple moving average of $146.71. 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 $7.29 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. Chord Energy Co. has a one year low of $115.96 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results 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 firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.04 earnings per share. On average, analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.19%. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

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.