Park Avenue Securities LLC Sells 763 Shares of Chord Energy Co. (NASDAQ:CHRD)

Park Avenue Securities LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 24.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,362 shares of the company’s stock after selling 763 shares during the period. Park Avenue Securities LLC’s holdings in Chord Energy were worth $308,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kraematon Investment Advisors Inc. bought a new position in shares of Chord Energy in the 2nd quarter valued at about $4,426,000. Sei Investments Co. raised its holdings in Chord Energy by 24.0% during the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after buying an additional 27,903 shares during the period. Bank of Montreal Can boosted its stake in Chord Energy by 956.5% during the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares during the period. Quantbot Technologies LP bought a new position in Chord Energy during the first quarter valued at $884,000. Finally, BOKF NA lifted its holdings in shares of Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after acquiring an additional 14,601 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CHRD shares. Truist Financial dropped their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets decreased their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company cut their target price on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.40.

Insider Activity

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Down 0.3 %

Shares of Chord Energy stock opened at $133.71 on Monday. Chord Energy Co. has a 52-week low of $126.96 and a 52-week high of $190.23. The firm’s 50 day moving average price is $141.25 and its 200-day moving average price is $163.58. 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 company has a market cap of $5.57 billion, a P/E ratio of 6.27, a PEG ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same quarter in the prior year, the company posted $3.65 EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts predict that Chord Energy Co. will post 17.93 EPS for the current fiscal 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 paid a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.74%. Chord Energy’s payout ratio is 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.