Synovus Financial Corp Has $764,000 Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Synovus Financial Corp boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 14.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,869 shares of the company’s stock after buying an additional 761 shares during the period. Synovus Financial Corp’s holdings in Chord Energy were worth $764,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Chord Energy during the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its position 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 purchasing 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 approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHRD. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets reduced 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 reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their price objective on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.55.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $115.09 on Wednesday. Chord Energy Co. has a 52-week low of $113.58 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a fifty day moving average price of $127.45 and a 200-day moving average price of $146.03. The company has a market capitalization of $7.04 billion, a P/E ratio of 5.93, a PEG ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $5.04 earnings per share. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, equities analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was 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.