Point72 Europe London LLP Acquires 100,951 Shares of Chord Energy Co. (NASDAQ:CHRD)

Point72 Europe London LLP increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 270.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,295 shares of the company’s stock after purchasing an additional 100,951 shares during the period. Chord Energy makes up 1.1% of Point72 Europe London LLP’s portfolio, making the stock its 19th biggest position. Point72 Europe London LLP owned approximately 0.23% of Chord Energy worth $18,010,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Chord Energy by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company’s stock valued at $4,460,000 after buying an additional 1,586 shares during the last quarter. Comerica Bank raised its position in Chord Energy by 10.7% in the 1st quarter. Comerica Bank now owns 20,591 shares of the company’s stock valued at $3,670,000 after buying an additional 1,994 shares during the last quarter. Cetera Investment Advisers raised its position in Chord Energy by 319.1% in the 1st quarter. Cetera Investment Advisers now owns 9,479 shares of the company’s stock valued at $1,689,000 after buying an additional 7,217 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Chord Energy in the 1st quarter valued at approximately $444,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Chord Energy in the 1st quarter valued at approximately $72,000. Institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group began coverage on Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Piper Sandler boosted their price target on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

Chord Energy Stock Up 0.9 %

CHRD stock opened at $127.52 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.80 billion, a PE ratio of 6.57, a PEG ratio of 5.07 and a beta of 0.98. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The business’s 50 day simple moving average is $130.17 and its 200 day simple moving average is $151.06.

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

Chord Energy Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.92%. Chord Energy’s dividend payout ratio (DPR) is presently 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.