Geode Capital Management LLC Has $151.08 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Geode Capital Management LLC raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,162,442 shares of the company’s stock after purchasing an additional 34,156 shares during the quarter. Geode Capital Management LLC’s holdings in Chord Energy were worth $151,077,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its stake in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new position in Chord Energy in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its holdings in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy during the second quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $116.19 on Tuesday. 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 stock has a market capitalization of $7.10 billion, a PE ratio of 5.98, a PEG ratio of 4.79 and a beta of 0.96. The firm has a 50 day moving average of $127.45 and a 200-day moving average of $146.03. Chord Energy Co. has a 12 month low of $115.92 and a 12 month 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 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $5.04 earnings per share. Chord Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group lowered their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group started coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.55.

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.