Cetera Investment Advisers Boosts Stake in Chord Energy Corporation $CHRD

Cetera Investment Advisers increased its position in Chord Energy Corporation (NASDAQ:CHRD) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,530 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. Cetera Investment Advisers’ holdings in Chord Energy were worth $1,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Chord Energy by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after buying an additional 19,227 shares during the period. American Century Companies Inc. increased its stake in shares of Chord Energy by 3.7% in the 1st quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock worth $130,515,000 after acquiring an additional 41,797 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Chord Energy by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock valued at $83,169,000 after acquiring an additional 32,802 shares during the period. Palo Duro Investment Partners LP boosted its stake in Chord Energy by 3.1% during the first quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company’s stock worth $77,742,000 after acquiring an additional 20,940 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Chord Energy by 9.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company’s stock worth $69,744,000 after purchasing an additional 52,375 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Chord Energy in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Mizuho dropped their price target on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $137.69.

Insiders Place Their Bets

In related news, Director Samantha Holroyd bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the acquisition, the director owned 17,706 shares of the company’s stock, valued at $1,513,863. This trade represents a 7.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Chord Energy Stock Up 0.9%

CHRD stock opened at $93.15 on Monday. The stock has a market capitalization of $5.30 billion, a P/E ratio of 35.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $129.32. The business has a fifty day moving average price of $93.33 and a 200-day moving average price of $99.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.24 by $0.11. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $3.40 EPS. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

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 issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Chord Energy’s payout ratio is presently 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.