Beddow Capital Management Inc. Buys New Position in Chord Energy Co. (NASDAQ:CHRD)

Beddow Capital Management Inc. purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,005 shares of the company’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors have also modified their holdings of CHRD. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Dimensional Fund Advisors LP increased its stake 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 period. Boston Partners raised its holdings in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after acquiring an additional 674,965 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Chord Energy by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after acquiring an additional 113,618 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 worth $127,747,000 after acquiring an additional 165,196 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 2.4 %

Shares of CHRD opened at $130.33 on Tuesday. 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 company has a market cap of $7.97 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 5.02 and a beta of 0.98. The stock has a fifty day moving average price of $131.20 and a two-hundred day moving average price of $154.15. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.04 earnings per share. Analysts predict that Chord Energy Co. will post 16.8 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.84%. Chord Energy’s payout ratio is 25.75%.

Analysts Set New Price Targets

CHRD has been the subject of a number of recent research reports. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Citigroup dropped 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. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. UBS Group started coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target for the company. Finally, Piper Sandler upped their price objective on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.27.

Insider Activity

In other news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 3.59 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by 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.