US Bancorp DE Sells 5,111 Shares of Chord Energy Co. (NASDAQ:CHRD)

US Bancorp DE decreased its position in Chord Energy Co. (NASDAQ:CHRD) by 74.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,729 shares of the company’s stock after selling 5,111 shares during the quarter. US Bancorp DE’s holdings in Chord Energy were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in shares of 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 valued at $30,000 after buying an additional 101 shares during the period. Spartan Fund Management Inc. bought a new position in shares of Chord Energy during the third quarter valued at about $34,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy in the second quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CHRD shares. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research report on Friday, September 20th. Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group assumed coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price target on the stock. Citigroup decreased their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research 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, Chord Energy has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Price Performance

Shares of CHRD stock opened at $130.89 on Friday. 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 cap of $8.00 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 5.05 and a beta of 0.98. The business’s fifty day moving average is $131.48 and its 200 day moving average is $155.01. Chord Energy Co. has a twelve month low of $123.30 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $5.04 earnings per share. The firm’s revenue was up 33.4% compared to the same quarter last year. Research analysts expect that Chord Energy Co. will post 16.87 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.82%. Chord Energy’s payout ratio is 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.