Envestnet Asset Management Inc. Purchases 16,877 Shares of Chord Energy Co. (NASDAQ:CHRD)

Envestnet Asset Management Inc. increased its position in Chord Energy Co. (NASDAQ:CHRD) by 13.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 139,711 shares of the company’s stock after purchasing an additional 16,877 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.34% of Chord Energy worth $23,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kraematon Investment Advisors Inc. bought a new stake in shares of Chord Energy in the 2nd quarter valued at about $4,426,000. Capital Fund Management S.A. raised its holdings in Chord Energy by 252.9% in the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after acquiring an additional 31,484 shares during the period. Sei Investments Co. raised its holdings in Chord Energy by 24.0% in the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after acquiring an additional 27,903 shares during the period. Quantbot Technologies LP bought a new position in Chord Energy in the 1st quarter valued at about $884,000. Finally, BOKF NA raised its holdings in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after acquiring an additional 14,601 shares during the period. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a report on Friday. Bank of America raised their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. 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 report on Monday, August 12th. Piper Sandler lowered their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Truist Financial lowered their target price on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $202.10.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 0.3 %

CHRD opened at $136.73 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99. Chord Energy Co. has a twelve month low of $129.75 and a twelve month high of $190.23. The company’s 50-day moving average price is $152.80 and its two-hundred day moving average price is $167.21.

Chord Energy (NASDAQ:CHRD) last released 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 company had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.65 earnings per share. As a group, equities analysts expect that Chord Energy Co. will post 19.67 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Chord Energy 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.