Phocas Financial Corp. Has $4.24 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

Phocas Financial Corp. trimmed its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 6.8% during the third quarter, Holdings Channel.com reports. The firm owned 32,584 shares of the company’s stock after selling 2,368 shares during the period. Phocas Financial Corp.’s holdings in Chord Energy were worth $4,243,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its stake in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the second quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the last quarter. Finally, Spartan Fund Management Inc. bought a new stake in Chord Energy during the third quarter worth $34,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 2.4 %

Chord Energy stock opened at $130.33 on Tuesday. The stock has a market cap of $7.97 billion, a P/E ratio of 6.71, a PEG ratio of 5.02 and a beta of 0.98. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm’s fifty day moving average price is $131.20 and its 200-day moving average price is $154.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.04 EPS. Equities research analysts forecast that Chord Energy Co. will post 16.8 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 3.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their target price on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. BMO Capital Markets dropped their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. 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 price target for the company. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. 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’s stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $190.27.

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.