Advisors Asset Management Inc. Raises Holdings in Chord Energy Corporation $CHRD

Advisors Asset Management Inc. increased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 36.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,610 shares of the company’s stock after purchasing an additional 20,161 shares during the quarter. Advisors Asset Management Inc. owned 0.13% of Chord Energy worth $7,323,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in Chord Energy during the 1st quarter valued at $36,837,000. American Century Companies Inc. boosted its position in Chord Energy by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after purchasing an additional 179,209 shares during the period. HITE Hedge Asset Management LLC grew its stake in Chord Energy by 27.8% during the 1st quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company’s stock worth $50,275,000 after buying an additional 97,086 shares during the last quarter. Trexquant Investment LP boosted its stake in Chord Energy by 176.1% during the 1st quarter. Trexquant Investment LP now owns 144,736 shares of the company’s stock valued at $16,315,000 after purchasing an additional 92,320 shares during the period. Finally, Gotham Asset Management LLC grew its position in Chord Energy by 864.5% in the 1st quarter. Gotham Asset Management LLC now owns 100,775 shares of the company’s stock valued at $11,359,000 after buying an additional 90,327 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Samantha Holroyd purchased 1,250 shares of the business’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the purchase, the director directly owned 17,706 shares in the company, valued at $1,513,863. The trade was a 7.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Chord Energy from $167.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Mizuho decreased their target price on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Bank of America increased their target price on shares of Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Wells Fargo & Company increased their price objective on shares of Chord Energy from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Roth Capital started coverage on shares of Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $137.69.

Chord Energy Trading Down 1.5%

Shares of NASDAQ:CHRD opened at $91.88 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 35.34 and a beta of 0.92. The company’s fifty day simple moving average is $93.97 and its 200 day simple moving average is $99.35. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $130.91.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.Chord Energy’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.40 EPS. As a group, research analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. Chord Energy’s dividend payout ratio is currently 200.00%.

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.