Eagle Asset Management Inc. Trims Position in Chord Energy Co. (NASDAQ:CHRD)

Eagle Asset Management Inc. cut its position in Chord Energy Co. (NASDAQ:CHRD) by 41.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,687 shares of the company’s stock after selling 123,832 shares during the period. Eagle Asset Management Inc. owned about 0.28% of Chord Energy worth $22,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHRD. Shell Asset Management Co. bought a new position in shares of Chord Energy during the first quarter worth $246,000. BOKF NA boosted its position in shares of Chord Energy by 1,678.3% during the first quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after acquiring an additional 14,601 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Chord Energy by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company’s stock worth $4,460,000 after acquiring an additional 1,586 shares during the last quarter. Invenomic Capital Management LP boosted its position in shares of Chord Energy by 16.4% during the first quarter. Invenomic Capital Management LP now owns 316,769 shares of the company’s stock worth $56,461,000 after acquiring an additional 44,641 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Chord Energy by 10.7% during the first quarter. Comerica Bank now owns 20,591 shares of the company’s stock worth $3,670,000 after acquiring an additional 1,994 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHRD. Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Citigroup lowered 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 report on Monday, August 12th. Bank of America increased their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Truist Financial lowered their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Trading Up 1.6 %

Shares of CHRD opened at $134.43 on Friday. The company has a market cap of $8.22 billion, a P/E ratio of 6.92, a P/E/G ratio of 5.31 and a beta of 0.98. Chord Energy Co. has a twelve month low of $123.30 and a twelve month high of $190.23. The company’s fifty day simple moving average is $130.99 and its 200-day simple moving average is $153.18. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last posted 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). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.04 EPS. As a group, analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.72%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

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.