Foundry Partners LLC Purchases 9,613 Shares of Chord Energy Co. (NASDAQ:CHRD)

Foundry Partners LLC grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 22.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,009 shares of the company’s stock after acquiring an additional 9,613 shares during the quarter. Foundry Partners LLC owned about 0.08% of Chord Energy worth $6,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised 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 valued at $266,454,000 after buying an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the period. Boston Partners grew its position in shares of Chord Energy by 107.0% during 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 during the period. Millennium Management LLC raised its stake in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after buying an additional 483,144 shares during the period. Finally, KGH Ltd grew its stake in Chord Energy by 872.0% in the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after acquiring an additional 435,998 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 1.5 %

Chord Energy stock opened at $129.84 on Thursday. The stock’s 50 day moving average price is $131.00 and its 200 day moving average price is $153.33. The company has a market cap of $7.94 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced 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 company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.04 EPS. On average, sell-side analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given 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 3.85%. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research reports. BMO Capital Markets cut their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. UBS Group assumed coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Piper Sandler raised their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Company 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.