Vestcor Inc Sells 8,580 Shares of Chord Energy Co. (NASDAQ:CHRD)

Vestcor Inc lowered its position in Chord Energy Co. (NASDAQ:CHRD) by 17.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 41,215 shares of the company’s stock after selling 8,580 shares during the quarter. Vestcor Inc’s holdings in Chord Energy were worth $5,367,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Hexagon Capital Partners LLC lifted its position 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 acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC bought a new position in Chord Energy in the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its holdings 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 buying an additional 101 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in shares of Chord Energy during the third quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy in the second quarter worth $40,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.8 %

CHRD stock opened at $119.33 on Tuesday. The company has a market capitalization of $7.29 billion, a PE ratio of 6.14, a P/E/G ratio of 4.70 and a beta of 0.96. 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 Co. has a 12 month low of $115.96 and a 12 month high of $190.23. The firm’s 50-day moving average is $129.00 and its 200 day moving average is $148.21.

Chord Energy (NASDAQ:CHRD) last issued its 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). The company 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 business’s revenue was up 33.4% compared to the same quarter last year. During the same period last year, the business posted $5.04 earnings per share. On average, research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CHRD shares. Wells Fargo & Company cut their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Two research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.