19,637 Shares in Chord Energy Co. (NASDAQ:CHRD) Bought by Centiva Capital LP

Centiva Capital LP bought a new position in Chord Energy Co. (NASDAQ:CHRD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,637 shares of the company’s stock, valued at approximately $2,557,000.

Several other hedge funds also recently made changes to their positions in the company. Ascent Group LLC purchased a new position in shares of Chord Energy in the third quarter worth $2,028,000. Benjamin Edwards Inc. increased its position in Chord Energy by 61.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company’s stock valued at $407,000 after purchasing an additional 1,184 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Chord Energy by 146.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,726 shares of the company’s stock valued at $876,000 after purchasing an additional 3,994 shares during the period. Point72 Hong Kong Ltd purchased a new position in Chord Energy during the 3rd quarter valued at $1,961,000. Finally, Kore Advisors LP purchased a new position in Chord Energy during the 3rd quarter valued at $4,428,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $126.88 on Tuesday. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 5.12 and a beta of 0.96. The firm’s 50-day moving average is $129.96 and its 200 day moving average is $150.25. Chord Energy Co. has a 1 year low of $123.30 and a 1 year high of $190.23. 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 (NASDAQ:CHRD) last posted its 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 company had revenue of $1.12 billion for 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%. Chord Energy’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.04 EPS. Sell-side analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced 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. This represents a $5.00 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHRD. Truist Financial reduced their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets dropped their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler boosted their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company dropped 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. 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 a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

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.