Cynosure Group LLC Buys 3,415 Shares of Chord Energy Co. (NASDAQ:CHRD)

Cynosure Group LLC boosted its position in Chord Energy Co. (NASDAQ:CHRD) by 75.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,968 shares of the company’s stock after buying an additional 3,415 shares during the period. Cynosure Group LLC’s holdings in Chord Energy were worth $1,038,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in 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 Chord Energy by 77.7% during 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. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy during the 2nd quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares during the last quarter. Finally, Spartan Fund Management Inc. bought a new position in shares of Chord Energy in the third quarter valued at approximately $34,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHRD. Jefferies Financial Group began coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. BMO Capital Markets reduced their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Truist Financial dropped their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Trading Down 1.9 %

Shares of CHRD opened at $128.01 on Wednesday. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The business has a 50-day moving average of $130.92 and a 200 day moving average of $152.14. The firm has a market cap of $7.83 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 5.23 and a beta of 0.98. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS 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 business 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 company posted $5.04 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, research analysts forecast that Chord Energy Co. will post 16.5 EPS for the current 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 given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.