Virtu Financial LLC decreased its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 74.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,764 shares of the company's stock after selling 8,188 shares during the quarter. Virtu Financial LLC's holdings in Chord Energy were worth $360,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Chord Energy in the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its position in 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 during the last quarter. Spartan Fund Management Inc. acquired a new stake in Chord Energy during the 3rd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Chord Energy in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 97.76% of the company's stock.
A number of analysts have recently weighed in on the company. UBS Group lowered their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Piper Sandler raised their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Truist Financial reduced their target price on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Bank of America increased their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada dropped their price objective on shares of 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 research 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $184.55.
View Our Latest Stock Report on CHRD
Shares of Chord Energy stock opened at $116.19 on Tuesday. 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 Co. has a 12 month low of $115.92 and a 12 month high of $190.23. The stock has a market cap of $7.10 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The business has a fifty day simple moving average of $127.45 and a 200 day simple moving average of $146.03.
Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $5.04 earnings per share. The business's revenue was up 33.4% on a year-over-year basis. Research analysts predict that Chord Energy Co. will post 16.5 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is 25.75%.
In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares of the company's stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.
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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