Cetera Advisors LLC purchased a new stake in Chord Energy Co. (NASDAQ:CHRD – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,489 shares of the company’s stock, valued at approximately $444,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Rise Advisors LLC acquired a new stake in shares of Chord Energy during the first quarter worth $31,000. SRS Capital Advisors Inc. grew its holdings in shares of Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after buying an additional 221 shares in the last quarter. Lindbrook Capital LLC increased its stake in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Chord Energy by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Chord Energy in the fourth quarter valued at $101,000. 97.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on CHRD shares. Bank of America restated a “buy” rating and set a $201.00 target price on shares of Chord Energy in a research note on Friday, June 14th. Citigroup cut their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday. Mizuho boosted their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Piper Sandler raised their target price on Chord Energy from $233.00 to $234.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $209.11.
Read Our Latest Stock Analysis on CHRD
Chord Energy Stock Performance
Shares of CHRD stock opened at $152.00 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 12 month low of $145.53 and a 12 month high of $190.23. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 0.92 and a beta of 1.01. The business’s 50-day moving average price is $167.31 and its 200-day moving average price is $170.41.
Chord Energy (NASDAQ:CHRD – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the company posted $3.65 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts forecast that Chord Energy Co. will post 20.85 EPS for the current year.
Chord Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s dividend payout ratio is 23.46%.
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.
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