Cynosure Group LLC Raises Position in Chord Energy Co. (NASDAQ:CHRD)

Cynosure Group LLC raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 75.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,968 shares of the company’s stock after buying an additional 3,415 shares during the quarter. Cynosure Group LLC’s holdings in Chord Energy were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CHRD. Kraematon Investment Advisors Inc. bought a new position in Chord Energy in the second quarter valued at $4,426,000. Victory Capital Management Inc. increased 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 valued at $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after buying an additional 52,835 shares in the last quarter. Caxton Associates LP bought a new stake in Chord Energy in the 2nd quarter worth approximately $2,515,000. Finally, DNB Asset Management AS purchased a new stake in Chord Energy in the second quarter worth approximately $2,041,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the subject of a number of recent research reports. Citigroup lowered their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Royal Bank of Canada lowered their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Truist Financial lowered their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Stock Performance

Shares of CHRD stock opened at $128.01 on Wednesday. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 5.23 and a beta of 0.98. The stock has a fifty day moving average of $130.92 and a 200 day moving average of $152.14. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS 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 company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business posted $5.04 earnings per share. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, research analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

About Chord Energy

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.