Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 193.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,001 shares of the company’s stock after purchasing an additional 9,231 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Chord Energy were worth $1,823,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 741,705 shares in the last quarter. Boston Partners lifted its position in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares during the period. Pacer Advisors Inc. boosted its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after purchasing an additional 113,618 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD stock opened at $130.44 on Tuesday. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 5.39 and a beta of 0.98. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. 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’s fifty day simple moving average is $131.00 and its 200-day simple moving average is $152.50.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results 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). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s revenue was up 33.4% compared to the same quarter last year. During the same period last year, the company posted $5.04 earnings per share. On average, sell-side analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.83%. Chord Energy’s payout ratio is 25.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CHRD. UBS Group initiated coverage on Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price for the company. Piper Sandler lifted their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada cut their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

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.