Sumitomo Mitsui Trust Group Inc. Buys 792 Shares of Chord Energy Co. (NASDAQ:CHRD)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 117,273 shares of the company’s stock after acquiring an additional 792 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Chord Energy were worth $15,272,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the period. Boston Partners lifted its stake in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the period. American Century Companies Inc. lifted its position in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after buying an additional 165,196 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CHRD. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Wells Fargo & Company lowered 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. Piper Sandler raised their price objective on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial reduced their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Price Performance

NASDAQ CHRD opened at $127.28 on Monday. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The stock has a 50-day moving average of $131.20 and a 200 day moving average of $154.15. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 6.55, a PEG ratio of 5.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 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 posted $5.04 earnings per share. Chord Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy Co. will post 16.8 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. Shareholders of record on Wednesday, November 27th will be given a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.93%. Chord Energy’s payout ratio is 25.75%.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.