Investment Management Corp of Ontario Buys 600 Shares of Chord Energy Co. (NASDAQ:CHRD)

Investment Management Corp of Ontario lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 42.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Chord Energy were worth $260,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after acquiring an additional 74,165 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. 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 valued at $297,090,000 after purchasing an additional 741,705 shares during the period. Pacer Advisors Inc. increased its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after buying an additional 113,618 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CHRD shares. Piper Sandler lifted their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets cut their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Jefferies Financial Group started coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.45.

Chord Energy Price Performance

CHRD opened at $117.20 on Monday. Chord Energy Co. has a fifty-two week low of $115.96 and a fifty-two week high of $190.23. The firm has a 50-day moving average of $129.22 and a 200 day moving average of $148.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $7.16 billion, a P/E ratio of 6.04, a PEG ratio of 4.91 and a beta of 0.96.

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

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.27%. Chord Energy’s dividend payout ratio is presently 25.75%.

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.