Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 56.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,218 shares of the company’s stock after selling 8,225 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Chord Energy were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CHRD. SG Americas Securities LLC lifted its holdings in Chord Energy by 50.1% during the 1st quarter. SG Americas Securities LLC now owns 4,687 shares of the company’s stock worth $835,000 after buying an additional 1,565 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Chord Energy by 2.8% during the 1st quarter. Russell Investments Group Ltd. now owns 36,811 shares of the company’s stock valued at $6,561,000 after acquiring an additional 1,002 shares during the last quarter. ProShare Advisors LLC raised its stake in Chord Energy by 4.8% during the 1st quarter. ProShare Advisors LLC now owns 9,538 shares of the company’s stock valued at $1,700,000 after acquiring an additional 434 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Chord Energy during the 1st quarter valued at approximately $3,537,000. Finally, Cynosure Group LLC purchased a new stake in Chord Energy during the 1st quarter valued at approximately $682,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CHRD shares. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Truist Financial reduced their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. UBS Group initiated coverage on Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Down 2.8 %

Shares of Chord Energy stock opened at $127.28 on Friday. 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 business has a 50-day moving average price of $131.20 and a 200 day moving average price of $154.45. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm has a market cap of $7.78 billion, a P/E ratio of 6.55, a P/E/G ratio of 5.07 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $5.04 earnings per share. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, sell-side analysts forecast that Chord Energy Co. will post 16.87 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.93%. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

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.