Victory Capital Management Inc. Purchases 656,374 Shares of Chord Energy Co. (NASDAQ:CHRD)

Victory Capital Management Inc. raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 41.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,245,435 shares of the company’s stock after acquiring an additional 656,374 shares during the quarter. Victory Capital Management Inc.’s holdings in Chord Energy were worth $292,423,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the period. Boston Partners raised its position in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the period. American Century Companies Inc. boosted its stake in shares of Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after acquiring an additional 113,618 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Chord Energy by 27.7% during 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 acquiring an additional 165,196 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after purchasing an additional 483,144 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Chord Energy stock traded down $1.14 during midday trading on Tuesday, reaching $130.53. 145,147 shares of the stock traded hands, compared to its average volume of 879,661. The stock has a market cap of $8.08 billion, a P/E ratio of 6.78, a PEG ratio of 5.12 and a beta of 0.98. The stock’s fifty day moving average is $131.92 and its 200-day moving average is $155.59. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $123.30 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its earnings results 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 company’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the business posted $5.04 earnings per share. As a group, equities research analysts anticipate that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Citigroup lowered their price target 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. Bank of America upped their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, UBS Group started coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average price target of $190.18.

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.