Empowered Funds LLC Grows Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Empowered Funds LLC grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 58.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,825 shares of the company’s stock after purchasing an additional 11,321 shares during the period. Empowered Funds LLC’s holdings in Chord Energy were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in 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 buying an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 72.0% in the second 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 period. Boston Partners increased its position in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares during the last quarter. American Century Companies Inc. raised its stake in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after purchasing an additional 113,618 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after purchasing an additional 165,196 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Price Performance

Shares of CHRD opened at $127.28 on Monday. The company has a market cap of $7.78 billion, a P/E ratio of 6.55, a PEG ratio of 5.02 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. 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 firm’s 50 day moving average price is $131.20 and its 200 day moving average price is $154.15.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion for 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%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.04 EPS. On average, research analysts forecast that Chord Energy Co. will post 16.8 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is presently 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.