Tectonic Advisors LLC Raises Holdings in Chord Energy Co. (NASDAQ:CHRD)

Tectonic Advisors LLC raised its holdings in Chord Energy Co. (NASDAQ:CHRD) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,443 shares of the company’s stock after purchasing an additional 176 shares during the quarter. Tectonic Advisors LLC’s holdings in Chord Energy were worth $987,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CHRD. Delta Capital Management LLC increased its holdings in Chord Energy by 4.3% in the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after purchasing an additional 90 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after buying an additional 97 shares in the last quarter. Commerce Bank raised its holdings in shares of Chord Energy by 4.3% in the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after buying an additional 98 shares during the period. New York State Teachers Retirement System lifted its stake in Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock worth $3,552,000 after acquiring an additional 100 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $110.75 on Thursday. The stock’s 50-day simple moving average is $118.99 and its 200-day simple moving average is $132.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $6.77 billion, a PE ratio of 5.70, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $109.21 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $5.04 EPS. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. As a group, equities research analysts forecast that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.51%. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a report on Friday, January 3rd. UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Wells Fargo & Company reduced their price objective on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Bank of America reissued a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.08.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.