Frank Rimerman Advisors LLC Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Frank Rimerman Advisors LLC grew its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 68.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,623 shares of the company’s stock after purchasing an additional 3,099 shares during the period. Frank Rimerman Advisors LLC’s holdings in Chord Energy were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kraematon Investment Advisors Inc. bought a new stake in shares of Chord Energy during the 2nd quarter valued at about $4,426,000. Sei Investments Co. grew its stake in Chord Energy by 24.0% in the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Chord Energy during the 1st quarter valued at $884,000. Finally, BOKF NA lifted its holdings in shares of Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after acquiring an additional 14,601 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $128.85 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.37 billion, a P/E ratio of 6.05, a P/E/G ratio of 5.04 and a beta of 0.97. The business’s 50 day moving average price is $136.61 and its 200-day moving average price is $159.88. Chord Energy Co. has a 52 week low of $126.38 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.65 EPS. Equities research analysts anticipate that Chord Energy Co. will post 17.07 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.88%. Chord Energy’s payout ratio is currently 23.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CHRD shares. Wells Fargo & Company lowered their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group assumed coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Piper Sandler increased their target price on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Company 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.