Chord Energy Co. (NASDAQ:CHRD) is HITE Hedge Asset Management LLC’s 6th Largest Position

HITE Hedge Asset Management LLC increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,052 shares of the company’s stock after buying an additional 14,405 shares during the quarter. Chord Energy accounts for approximately 3.5% of HITE Hedge Asset Management LLC’s holdings, making the stock its 6th biggest position. HITE Hedge Asset Management LLC owned approximately 0.38% of Chord Energy worth $30,220,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Kraematon Investment Advisors Inc. acquired a new position in Chord Energy in the 2nd quarter valued at $4,426,000. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 41.3% in 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 in the last quarter. Bank of Montreal Can lifted its position in 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 during the period. Caxton Associates LP bought a new stake in Chord Energy in the second quarter valued at about $2,515,000. Finally, Foundry Partners LLC lifted its holdings in Chord Energy by 22.7% during the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after acquiring an additional 9,613 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on CHRD shares. Citigroup reduced their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reduced their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Stock Down 0.5 %

Shares of NASDAQ CHRD opened at $126.88 on Tuesday. The firm has a market cap of $7.76 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 5.12 and a beta of 0.96. The company has a 50 day simple moving average of $129.96 and a 200 day simple moving average of $150.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1 year low of $123.30 and a 1 year high of $190.23.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.94%. Chord Energy’s payout ratio is currently 25.75%.

Chord Energy Company 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.