Pacer Advisors Inc. Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Pacer Advisors Inc. boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 50.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,872,156 shares of the company’s stock after buying an additional 627,122 shares during the period. Pacer Advisors Inc.’s holdings in Chord Energy were worth $218,892,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Chord Energy in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in Chord Energy by 77.7% in the 3rd 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. Benjamin F. Edwards & Company Inc. raised its position in 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 purchasing an additional 136 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Chord Energy during the fourth quarter worth $29,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’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 owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Chord Energy Price Performance

Chord Energy stock opened at $117.46 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $121.53 and a 200-day simple moving average of $135.74. The stock has a market cap of $7.18 billion, a P/E ratio of 6.05, a price-to-earnings-growth ratio of 6.35 and a beta of 0.99. Chord Energy Co. has a 12-month low of $109.59 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $5.04 earnings per share. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. Equities analysts expect that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.26%. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHRD shares. UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Morgan Stanley initiated coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Piper Sandler lowered their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Three 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. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

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.