Chord Energy Co. (NASDAQ:CHRD) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 8,762.1% during the third quarter, Holdings Channel reports. The fund owned 1,245,034 shares of the company’s stock after buying an additional 1,230,985 shares during the quarter. Pacer Advisors Inc.’s holdings in Chord Energy were worth $162,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Foundry Partners LLC increased its stake in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after acquiring an additional 9,613 shares during the period. Portfolio Design Labs LLC acquired a new stake in shares of Chord Energy in the third quarter worth $2,866,000. Advisors Asset Management Inc. grew its position in Chord Energy by 502.8% during the third quarter. Advisors Asset Management Inc. now owns 13,659 shares of the company’s stock valued at $1,779,000 after buying an additional 11,393 shares during the period. Factorial Partners LLC grew its position in Chord Energy by 2.6% during the third quarter. Factorial Partners LLC now owns 27,500 shares of the company’s stock valued at $3,581,000 after buying an additional 700 shares during the period. Finally, Commerce Bank grew its position in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after buying an additional 98 shares during the period. 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 acquired 500 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD opened at $129.84 on Thursday. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The stock has a market cap of $7.94 billion, a PE ratio of 6.69, a P/E/G ratio of 5.14 and a beta of 0.98. The firm has a 50-day simple moving average of $131.00 and a two-hundred day simple moving average of $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 (NASDAQ:CHRD) last announced its quarterly 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $5.04 earnings per share. Chord Energy’s revenue was up 33.4% on a year-over-year basis. As a group, analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 3.85%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CHRD shares. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group initiated coverage on shares of Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler increased 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. Wells Fargo & Company decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $188.45.

Chord Energy Company 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.