Point72 Europe London LLP Purchases 100,951 Shares of Chord Energy Co. (NASDAQ:CHRD)

Point72 Europe London LLP grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 270.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 138,295 shares of the company’s stock after acquiring an additional 100,951 shares during the quarter. Chord Energy comprises about 1.1% of Point72 Europe London LLP’s portfolio, making the stock its 19th biggest holding. Point72 Europe London LLP’s holdings in Chord Energy were worth $18,010,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 462.9% during the 3rd 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 period. Stone House Investment Management LLC acquired a new position in shares of Chord Energy during the 3rd quarter worth $26,000. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% during 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 in the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Chord Energy during the 3rd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy during the 2nd quarter worth $40,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of CHRD opened at $127.52 on Friday. The stock has a market cap of $7.80 billion, a PE ratio of 6.57, a PEG ratio of 5.07 and a beta of 0.98. The business has a 50-day simple moving average of $130.17 and a two-hundred day simple moving average of $151.06. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12-month low of $123.30 and a 12-month high of $190.23.

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

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.92%. Chord Energy’s payout ratio is 25.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHRD. Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada lowered 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, November 20th. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, UBS Group started coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target for the company. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $188.45.

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.