Geode Capital Management LLC Buys 34,156 Shares of Chord Energy Co. (NASDAQ:CHRD)

Geode Capital Management LLC boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,162,442 shares of the company’s stock after purchasing an additional 34,156 shares during the quarter. Geode Capital Management LLC owned about 1.90% of Chord Energy worth $151,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. GAMMA Investing LLC grew its position in shares of Chord Energy by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after buying an additional 97 shares during the period. Commerce Bank boosted its stake in Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC raised its holdings in Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after purchasing an additional 119 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The shares were 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. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD stock opened at $116.19 on Tuesday. The firm has a market cap of $7.10 billion, a PE ratio of 5.98, a P/E/G ratio of 4.79 and a beta of 0.96. Chord Energy Co. has a 12 month low of $115.92 and a 12 month high of $190.23. The company’s fifty day simple moving average is $127.45 and its 200-day simple moving average is $146.03. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data 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 analyst estimates 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 quarter in the prior year, the company earned $5.04 earnings per share. Equities research analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid 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 yield of 4.30%. Chord Energy’s dividend payout ratio is 25.75%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHRD. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Mizuho lowered their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets decreased their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Two 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.55.

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.