Synovus Financial Corp Has $764,000 Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Synovus Financial Corp grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 14.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,869 shares of the company’s stock after acquiring an additional 761 shares during the period. Synovus Financial Corp’s holdings in Chord Energy were worth $764,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CHRD. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Chord Energy by 11.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company’s stock valued at $654,000 after buying an additional 403 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Chord Energy during the second quarter valued at about $19,532,000. Raymond James & Associates lifted its position in shares of Chord Energy by 77.6% during the second quarter. Raymond James & Associates now owns 140,582 shares of the company’s stock valued at $23,573,000 after purchasing an additional 61,442 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Chord Energy by 98.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $552,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Chord Energy during the second quarter valued at about $207,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

NASDAQ CHRD opened at $115.09 on Wednesday. Chord Energy Co. has a 12 month low of $113.58 and a 12 month high of $190.23. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 4.79 and a beta of 0.96. The company’s 50 day moving average is $127.45 and its two-hundred day moving average is $146.03. 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 data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion for 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 firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.04 earnings per share. As a group, research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Analyst Ratings Changes

CHRD has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Piper Sandler lowered their price target on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company boosted their price target on shares of Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group lowered their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $182.55.

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.