Royce & Associates LP Sells 1,681 Shares of Chord Energy Co. (NASDAQ:CHRD)

Royce & Associates LP trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD) by 2.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,662 shares of the company’s stock after selling 1,681 shares during the quarter. Royce & Associates LP’s holdings in Chord Energy were worth $7,509,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Kraematon Investment Advisors Inc. bought a new position in shares of Chord Energy in the second quarter valued at about $4,426,000. Victory Capital Management Inc. raised its holdings in 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 purchasing an additional 656,374 shares during the last quarter. Bank of Montreal Can raised its holdings in 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 purchasing an additional 52,835 shares during the last quarter. BOKF NA raised its holdings in 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 purchasing an additional 14,601 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in Chord Energy during the 2nd quarter worth about $2,515,000. 97.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD opened at $127.28 on Monday. 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 has a 50 day simple moving average of $131.20 and a 200 day simple moving average of $154.15. Chord Energy Co. has a 52-week low of $123.30 and a 52-week high of $190.23. The firm has a market capitalization of $7.78 billion, a PE ratio of 6.55, a P/E/G ratio of 5.02 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last released 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). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.04 EPS. Sell-side analysts predict that Chord Energy Co. will post 16.8 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CHRD. Piper Sandler boosted their price objective on Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Citigroup dropped their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Wells Fargo & Company decreased their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

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.