Point72 Hong Kong Ltd Makes New $1.96 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Point72 Hong Kong Ltd purchased a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 15,060 shares of the company’s stock, valued at approximately $1,961,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Chord Energy by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company’s stock valued at $4,460,000 after purchasing an additional 1,586 shares during the last quarter. Comerica Bank raised its position in shares of Chord Energy by 10.7% during the first quarter. Comerica Bank now owns 20,591 shares of the company’s stock valued at $3,670,000 after buying an additional 1,994 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Chord Energy by 319.1% in the first quarter. Cetera Investment Advisers now owns 9,479 shares of the company’s stock valued at $1,689,000 after buying an additional 7,217 shares during the period. Cetera Advisors LLC acquired a new stake in Chord Energy during the first quarter worth about $444,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Chord Energy during the first quarter valued at about $72,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Up 0.9 %

CHRD stock opened at $127.52 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 5.12 and a beta of 0.98. The business has a fifty day moving average price of $130.17 and a 200 day moving average price of $150.62. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) 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 the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.04 earnings per share. Analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CHRD. Truist Financial decreased their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group began 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 for the company. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.45.

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.