Premier Fund Managers Ltd Sells 30,400 Shares of Chord Energy Co. (NASDAQ:CHRD)

Premier Fund Managers Ltd lowered its stake in Chord Energy Co. (NASDAQ:CHRD) by 91.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,912 shares of the company’s stock after selling 30,400 shares during the quarter. Premier Fund Managers Ltd’s holdings in Chord Energy were worth $381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC increased its position in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. UMB Bank n.a. grew its position in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy in the second quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the period. Finally, Spartan Fund Management Inc. bought a new stake in shares of Chord Energy in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CHRD has been the subject of several recent analyst reports. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup decreased their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Truist Financial decreased their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada decreased their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.45.

Chord Energy Price Performance

CHRD stock opened at $129.84 on Thursday. The stock has a market capitalization of $7.94 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98. The company’s 50-day moving average is $131.00 and its 200-day moving average is $153.33. 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 Co. has a 1 year low of $123.30 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the company earned $5.04 EPS. Equities research analysts expect that Chord Energy Co. will post 16.8 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.85%. Chord Energy’s payout ratio is 25.75%.

About Chord Energy

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.