Premier Fund Managers Ltd Sells 30,400 Shares of Chord Energy Co. (NASDAQ:CHRD)

Premier Fund Managers Ltd lowered its position in Chord Energy Co. (NASDAQ:CHRD) by 91.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,912 shares of the company’s stock after selling 30,400 shares during the quarter. Premier Fund Managers Ltd’s holdings in Chord Energy were worth $381,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kraematon Investment Advisors Inc. bought a new stake in shares of Chord Energy in the 2nd quarter worth approximately $4,426,000. Victory Capital Management Inc. lifted 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 during the period. Bank of Montreal Can lifted its position 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 worth $9,873,000 after buying an additional 52,835 shares during the period. BOKF NA lifted its position in shares of Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after buying an additional 14,601 shares during the period. Finally, Caxton Associates LP bought a new position in shares of Chord Energy during the 2nd quarter worth approximately $2,515,000. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the subject of several analyst reports. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup cut their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. UBS Group initiated coverage on Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price for the company. Truist Financial cut their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company dropped their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The trade was a 3.59 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 1.5 %

NASDAQ CHRD opened at $129.84 on Thursday. The stock has a fifty day moving average of $131.00 and a 200-day moving average of $153.33. The stock has a market capitalization of $7.94 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98. Chord Energy Co. has a 52 week low of $123.30 and a 52 week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.04 earnings per share. On average, equities research analysts forecast that Chord Energy Co. will post 16.8 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.85%. Chord Energy’s dividend payout ratio is presently 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.