Fortem Financial Group LLC Raises Holdings in Chord Energy Co. (NASDAQ:CHRD)

Fortem Financial Group LLC boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 9.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,719 shares of the company’s stock after buying an additional 559 shares during the quarter. Fortem Financial Group LLC’s holdings in Chord Energy were worth $875,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CHRD. Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy during the 3rd quarter worth about $26,000. UMB Bank n.a. lifted its stake in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the period. Spartan Fund Management Inc. acquired a new stake in Chord Energy during the third quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Chord Energy in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $117.92 on Wednesday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 4.70 and a beta of 0.96. 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’s 50 day moving average is $128.75 and its two-hundred day moving average is $147.78. Chord Energy Co. has a 52-week low of $115.96 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results 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). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.04 earnings per share. Analysts forecast that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Ratings Changes

A number of brokerages have weighed in on CHRD. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. 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 report on Monday, September 30th. UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, BMO Capital Markets cut their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

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.