MetLife Investment Management LLC Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

MetLife Investment Management LLC lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,982 shares of the company’s stock after selling 756 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Chord Energy worth $4,165,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its position in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. UMB Bank n.a. boosted its stake in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy in the 2nd quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares during the period. Finally, Spartan Fund Management Inc. purchased a new position in Chord Energy during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $126.88 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock’s fifty day moving average is $129.96 and its two-hundred day moving average is $150.25. The firm has a market capitalization of $7.76 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 5.12 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data 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 firm had revenue of $1.12 billion for 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%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.04 earnings per share. On average, research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. UBS Group initiated coverage on Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective on the stock. Finally, Bank of America increased their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.