Creative Planning grew its stake in Chord Energy Co. (NASDAQ:CHRD – Free Report) by 127.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,613 shares of the company’s stock after buying an additional 2,025 shares during the period. Creative Planning’s holdings in Chord Energy were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. BlackRock Inc. increased its stake in shares of Chord Energy by 50.4% in the first quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock valued at $657,933,000 after buying an additional 1,638,278 shares during the period. First Trust Advisors LP increased its stake in shares of Chord Energy by 514.8% in the first quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock valued at $198,821,000 after buying an additional 1,236,882 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in shares of Chord Energy in the fourth quarter valued at about $59,579,000. State Street Corp increased its stake in shares of Chord Energy by 22.5% in the first quarter. State Street Corp now owns 1,903,685 shares of the company’s stock valued at $256,236,000 after buying an additional 349,592 shares during the period. Finally, Donald Smith & CO. Inc. increased its stake in shares of Chord Energy by 689.2% in the first quarter. Donald Smith & CO. Inc. now owns 381,888 shares of the company’s stock valued at $51,402,000 after buying an additional 333,499 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. BMO Capital Markets assumed coverage on Chord Energy in a research note on Thursday, August 31st. They set an “outperform” rating and a $185.00 target price for the company. TD Cowen cut Chord Energy from an “outperform” rating to a “market perform” rating and set a $151.00 target price for the company. in a research note on Wednesday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chord Energy in a research note on Wednesday, August 23rd. Mizuho raised their target price on Chord Energy from $180.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $221.00 target price on shares of Chord Energy in a research note on Wednesday, September 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.89.
Insider Activity
In other news, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $169.19, for a total value of $507,570.00. Following the transaction, the director now owns 220,098 shares in the company, valued at $37,238,380.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $169.19, for a total value of $507,570.00. Following the transaction, the director now owns 220,098 shares in the company, valued at $37,238,380.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael H. Lou sold 7,632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $161.26, for a total value of $1,230,736.32. Following the completion of the transaction, the chief financial officer now owns 186,235 shares in the company, valued at approximately $30,032,256.10. The disclosure for this sale can be found here. Insiders have sold 22,873 shares of company stock worth $3,707,718 over the last 90 days. 0.52% of the stock is currently owned by corporate insiders.
Chord Energy Stock Up 0.2 %
Shares of NASDAQ:CHRD opened at $170.49 on Thursday. The business’s 50 day simple moving average is $159.83 and its two-hundred day simple moving average is $152.08. The firm has a market cap of $7.08 billion, a P/E ratio of 4.17, a PEG ratio of 0.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.96. Chord Energy Co. has a 52-week low of $117.05 and a 52-week high of $172.19.
Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.31). Chord Energy had a return on equity of 19.07% and a net margin of 44.17%. The firm had revenue of $695.40 million during the quarter, compared to the consensus estimate of $677.85 million. During the same quarter in the previous year, the company posted $7.30 EPS. The firm’s revenue was up 29.1% on a year-over-year basis. As a group, research analysts forecast that Chord Energy Co. will post 19.76 EPS for the current fiscal year.
Chord Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, August 14th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 12.22%.
About Chord Energy
Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.
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