US Bancorp DE Sells 5,111 Shares of Chord Energy Co. (NASDAQ:CHRD)

US Bancorp DE lessened its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 74.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,729 shares of the company’s stock after selling 5,111 shares during the period. US Bancorp DE’s holdings in Chord Energy were worth $225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kraematon Investment Advisors Inc. acquired a new position in shares of Chord Energy in the 2nd quarter valued at about $4,426,000. Bank of Montreal Can increased its position in Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after buying an additional 52,835 shares in the last quarter. BOKF NA raised its stake in Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after buying an additional 14,601 shares during the period. Caxton Associates LP bought a new position in Chord Energy in the second quarter worth approximately $2,515,000. Finally, Edgestream Partners L.P. acquired a new stake in Chord Energy in the first quarter valued at approximately $3,537,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 1.4 %

Shares of NASDAQ CHRD opened at $130.89 on Friday. The business’s fifty day moving average price is $131.48 and its 200-day moving average price is $155.01. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The stock has a market capitalization of $8.00 billion, a PE ratio of 6.74, a P/E/G ratio of 5.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.04 earnings per share. On average, equities research analysts anticipate that Chord Energy Co. will post 16.87 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group started coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective on the stock. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 3.59 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.