Nomura Asset Management Co. Ltd. Acquires 14,267 Shares of Chord Energy Co. (NASDAQ:CHRD)

Nomura Asset Management Co. Ltd. grew its holdings in Chord Energy Co. (NASDAQ:CHRD) by 86.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,678 shares of the company’s stock after purchasing an additional 14,267 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Chord Energy were worth $3,995,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after acquiring an additional 519,547 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after acquiring an additional 483,144 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHRD. Piper Sandler upped their target price on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. UBS Group lowered their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Bank of America raised their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.82.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $119.28 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.29 billion, a PE ratio of 6.14, a P/E/G ratio of 4.79 and a beta of 0.96. The firm has a fifty day simple moving average of $127.88 and a 200 day simple moving average of $146.97. Chord Energy Co. has a twelve month low of $115.96 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $5.04 earnings per share. The business’s revenue was up 33.4% on a year-over-year basis. On average, sell-side analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is 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.