Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 33.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,135 shares of the company’s stock after selling 122,275 shares during the period. Jennison Associates LLC owned approximately 0.39% of Chord Energy worth $31,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its holdings in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in Chord Energy during the third quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy during the second quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group began 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. Truist Financial cut their price objective 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 assumed coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price for the company. Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Bank of America raised their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two investment 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 company currently has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Trading Up 1.9 %

Shares of NASDAQ:CHRD opened at $132.36 on Friday. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23. 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 $8.09 billion, a P/E ratio of 6.82, a P/E/G ratio of 5.14 and a beta of 0.98. The stock’s 50-day moving average is $131.00 and its 200-day moving average is $153.33.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $5.04 earnings per share. The business’s quarterly revenue was up 33.4% on a year-over-year basis. Equities research analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current 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. This represents a $5.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.