Sanctuary Advisors LLC Increases Stake in Chord Energy Co. (NASDAQ:CHRD)

Sanctuary Advisors LLC increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 21.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,141 shares of the company’s stock after acquiring an additional 892 shares during the quarter. Sanctuary Advisors LLC’s holdings in Chord Energy were worth $691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHRD. Bank of New York Mellon Corp raised its holdings in shares of Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after purchasing an additional 165,196 shares in the last quarter. State of Michigan Retirement System raised its stake in Chord Energy by 48.5% in the second quarter. State of Michigan Retirement System now owns 15,000 shares of the company’s stock worth $2,515,000 after buying an additional 4,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chord Energy by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,260 shares of the company’s stock worth $1,888,000 after buying an additional 1,927 shares during the period. Panagora Asset Management Inc. bought a new stake in Chord Energy during the 2nd quarter valued at $1,169,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Chord Energy by 29.9% in the 2nd quarter. Principal Financial Group Inc. now owns 509,335 shares of the company’s stock valued at $85,405,000 after acquiring an additional 117,379 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 1.5 %

Shares of NASDAQ:CHRD opened at $113.18 on Wednesday. The business has a 50-day moving average price of $125.30 and a 200-day moving average price of $143.82. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy Co. has a 52-week low of $109.59 and a 52-week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.04 earnings per share. Equities analysts predict that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.42%. Chord Energy’s payout ratio is currently 25.75%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price objective on Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Mizuho decreased their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $182.55.

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.