TCW Group Inc. Acquires 3,500 Shares of Chord Energy Co. (NASDAQ:CHRD)

TCW Group Inc. lifted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 11.7% during the third quarter, Holdings Channel.com reports. The firm owned 33,540 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. TCW Group Inc.’s holdings in Chord Energy were worth $4,368,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its position in Chord Energy by 18.3% during the third quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company’s stock valued at $212,000 after acquiring an additional 252 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of Chord Energy by 9.1% during the third quarter. Fortem Financial Group LLC now owns 6,719 shares of the company’s stock valued at $875,000 after acquiring an additional 559 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares in the last quarter. Barclays PLC grew its position in Chord Energy by 3.7% in the 3rd quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after purchasing an additional 2,318 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Chord Energy by 86.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,678 shares of the company’s stock valued at $3,995,000 after purchasing an additional 14,267 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the topic of a number of recent research reports. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets dropped 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. Finally, Wells Fargo & Company cut their price objective 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. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Chord Energy Stock Up 1.3 %

Chord Energy stock opened at $119.46 on Thursday. Chord Energy Co. has a 1-year low of $115.96 and a 1-year high of $190.23. The firm has a 50 day simple moving average of $128.52 and a 200 day simple moving average of $147.58. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 4.70 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share 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 company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned $5.04 EPS. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

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.