IFM Investors Pty Ltd Grows Position in Chord Energy Co. (NASDAQ:CHRD)

IFM Investors Pty Ltd boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 48.4% during the 3rd quarter, Holdings Channel reports. The firm owned 10,697 shares of the company’s stock after acquiring an additional 3,487 shares during the quarter. IFM Investors Pty Ltd’s holdings in Chord Energy were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Kraematon Investment Advisors Inc. purchased a new stake in Chord Energy during the 2nd quarter worth approximately $4,426,000. Sei Investments Co. grew its position in Chord Energy by 24.0% during the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after purchasing an additional 27,903 shares during the last quarter. Bank of Montreal Can grew its position in 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. Quantbot Technologies LP purchased a new stake in Chord Energy during the 1st quarter worth approximately $884,000. Finally, BOKF NA lifted its stake in Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after acquiring an additional 14,601 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price 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 $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Citigroup decreased their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Bank of America lifted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Finally, UBS Group initiated 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 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $128.85 on Monday. The firm has a market cap of $5.37 billion, a PE ratio of 6.05, a PEG ratio of 5.04 and a beta of 0.97. The firm has a fifty day moving average of $136.61 and a 200 day moving average of $159.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. Chord Energy Co. has a one year low of $126.38 and a one year high of $190.23.

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

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is presently 23.46%.

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.