Eagle Asset Management Inc. Cuts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Eagle Asset Management Inc. decreased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 41.9% during the third quarter, HoldingsChannel reports. The firm owned 171,687 shares of the company’s stock after selling 123,832 shares during the period. Eagle Asset Management Inc.’s holdings in Chord Energy were worth $22,665,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Kraematon Investment Advisors Inc. acquired a new stake in Chord Energy in the 2nd quarter worth approximately $4,426,000. Victory Capital Management Inc. lifted its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the period. Bank of Montreal Can increased its holdings in shares of Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after purchasing an additional 52,835 shares in the last quarter. BOKF NA increased its holdings in shares of Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after purchasing an additional 14,601 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Chord Energy during the 2nd quarter valued at approximately $2,515,000. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler lifted their target price on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup lowered their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Stock Up 1.6 %

Shares of NASDAQ:CHRD opened at $134.43 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $8.22 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 5.31 and a beta of 0.98. The firm’s 50-day moving average is $130.99 and its two-hundred day moving average is $153.18. Chord Energy Co. has a 1 year low of $123.30 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $5.04 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Analysts predict that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.72%. Chord Energy’s payout ratio is 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.