Nomura Asset Management Co. Ltd. Has $4 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 86.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,678 shares of the company’s stock after buying an additional 14,267 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.05% of Chord Energy worth $3,995,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after buying an additional 52,835 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Chord Energy by 22.7% in the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after buying an additional 9,613 shares during the last quarter. Caxton Associates LP acquired a new position in Chord Energy during the second quarter worth $2,515,000. Finally, Kore Advisors LP bought a new stake in Chord Energy during the third quarter worth $4,428,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 0.5 %

CHRD opened at $119.28 on Friday. The stock has a fifty day moving average of $127.88 and a 200-day moving average of $146.97. The company has a market capitalization of $7.29 billion, a P/E ratio of 6.14, a P/E/G ratio of 4.79 and a beta of 0.96. Chord Energy Co. has a fifty-two week low of $115.96 and a fifty-two 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.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 earnings per share. On average, equities analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.19%. Chord Energy’s payout ratio is 25.75%.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHRD. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reduced their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. 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, November 18th. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

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.