Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,267 shares of the company’s stock after purchasing an additional 478 shares during the period. Tectonic Advisors LLC’s holdings in Chord Energy were worth $1,077,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Fortem Financial Group LLC lifted its position in shares of Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Chord Energy by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after purchasing an additional 97 shares during the period. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Chord Energy by 2.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock valued at $712,000 after buying an additional 145 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

NASDAQ CHRD opened at $128.85 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.97 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 5.04 and a beta of 0.97. Chord Energy Co. has a 12-month low of $126.38 and a 12-month high of $190.23. The company has a 50 day moving average price of $136.61 and a two-hundred day moving average price of $160.24.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the company posted $3.65 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Co. will post 17.07 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.88%. Chord Energy’s dividend payout ratio (DPR) is currently 24.27%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHRD. Wolfe Research started coverage on shares of Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two equities 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. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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.