Ameritas Investment Partners Inc. Sells 127 Shares of Chord Energy Co. (NASDAQ:CHRD)

Ameritas Investment Partners Inc. cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,226 shares of the company’s stock after selling 127 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Chord Energy were worth $2,218,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Fortem Financial Group LLC raised its stake in Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after purchasing an additional 91 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Chord Energy by 0.6% during the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the period. Rise Advisors LLC acquired a new stake in Chord Energy during the first quarter worth about $31,000. Finally, Janney Montgomery Scott LLC increased its stake in Chord Energy by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock valued at $1,086,000 after acquiring an additional 175 shares during the period. 97.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHRD. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Citigroup lowered their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.10.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Up 0.3 %

NASDAQ CHRD opened at $136.73 on Friday. The stock’s 50 day simple moving average is $152.80 and its 200 day simple moving average is $167.18. Chord Energy Co. has a one year low of $129.75 and a one year high of $190.23. The firm has a market cap of $5.70 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.65 earnings per share. As a group, sell-side analysts forecast that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

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.