On September 22, 2023, investment management firm ProShare Advisors LLC made public its increased holdings in Chord Energy Co. (NASDAQ: CHRD) during the first quarter of the year. According to ProShare Advisors LLC’s recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor acquired an additional 2,019 shares of Chord Energy stock, raising its total holdings by 37.8% to 7,366 shares. The value of these holdings was reported to be $991,000 at the time of the filing.
Chord Energy is a renowned company operating within the energy sector, and its stock has garnered significant attention from investors over time. It is therefore imperative for potential investors and market participants to closely monitor any developments related to the company for making informed investment decisions.
To provide shareholders and stakeholders with comprehensive information on Chord Energy’s recent performance, it is worthwhile to refer to their latest earnings report released on Wednesday, August 2nd. According to this report, Chord Energy announced earnings per share (EPS) of $3.65 for the quarter. This figure fell short of analysts’ consensus estimates by ($0.31). The company recorded revenue of $695.40 million during this period, surpassing expectations set at $677.85 million by financial experts.
It should also be noted that Chord Energy registered a return on equity of 19.07% and a net margin of 44.17% for the quarter covered in the report. These figures reflect a strong financial position for the company amidst prevailing market conditions.
Comparing its performance with that of the same quarter in the previous year reveals that Chord Energy experienced a notable increase in revenue, marking a growth rate of 29.1%. During this period last year, the company reported earnings per share (EPS) amounting to $7.30.
Based on analysts’ assessments, the current fiscal year is expected to bring Chord Energy a total earnings per share (EPS) of 18.91. However, it is important for investors to remember that these estimates are subject to change based on market dynamics and unforeseen events.
For those interested in tracking Chord Energy’s progress and assessing its investment potential, staying up-to-date with news and developments related to the company is crucial. By gathering relevant information and analyzing key financial metrics, investors can make informed decisions in line with their investment objectives.
In conclusion, ProShare Advisors LLC’s recent increase in holdings of Chord Energy Co. highlights growing interest in the company’s stock. However, it is recommended that investors conduct thorough research and remain vigilant about any updates concerning Chord Energy in order to make well-informed investment decisions.
Chord Energy Corporation
CHRD
Buy
Updated on: 04/12/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds Make Moves and Analysts Provide Positive Outlook for Chord Energy Co.
On September 22, 2023, Chord Energy Co. (NASDAQ: CHRD) experienced significant activity from hedge funds, with several of them either increasing or decreasing their stakes in the business. One notable addition came from FORA Capital LLC, which purchased a new stake in Chord Energy during the first quarter worth $1,139,000. Silvercrest Asset Management Group LLC also bought a new position in the company during the fourth quarter valued at approximately $5,631,000. Shelton Capital Management joined in by acquiring a new stake in Chord Energy worth about $281,000.
Furthermore, Benjamin Edwards Inc. lifted its stake in Chord Energy by an impressive 165.8% during the first quarter. As a result of this increase, Benjamin Edwards Inc. now owns 396 shares of the company’s stock valued at $53,000 after purchasing an additional 247 shares in the last quarter. Additionally, Amalgamated Bank increased its holdings in Chord Energy by a substantial 333.2% during the first quarter. Amalgamated Bank now owns 27,237 shares of Chord Energy’s stock worth $3,666,000 after buying an additional 20,949 shares.
It is noteworthy to mention that institutional investors and hedge funds currently own 97.76% of Chord Energy’s stock.
Various equities research analysts have also commented on the performance of Chord Energy’s stock recently. For instance, Mizuho upped their price target on shares of Chord Energy from $180.00 to $194.00 and gave the company a “buy” rating in a research report published on Monday.
Citigroup also increased their price target on Chord Energy from $170.00 to $185.00 in another research report released on Friday, August 4th.
In addition to these positive assessments, Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chord Energy in a research note published on Wednesday, August 23rd. BMO Capital Markets also initiated coverage on the company with an “outperform” rating and a $185.00 price target for the stock.
Finally, Truist Financial reiterated a “buy” rating and set a $221.00 price objective on shares of Chord Energy in a research report on Wednesday, September 6th.
Interestingly, data from Bloomberg.com reveals that the average rating of Chord Energy’s stock is “Moderate Buy,” while the average target price is $186.00.
In other news related to Chord Energy, Director Lynn A. Peterson sold 3,000 shares of Chord Energy stock at an average price of $146.29 per share in a transaction that occurred on Monday, July 17th. The total value of this sale amounted to $438,870.00.
Following the transaction, Peterson currently owns 229,098 shares of Chord Energy’s stock, which are valued at approximately $33,514,746.42.
This sale was disclosed in a document filed with the SEC and can be accessed through this link.
Moreover, COO Charles J. Rimer sold 1,111 shares of Chord Energy’s stock on Monday, August 7th at an average price of $160.00 per share for a total value of $177,760.00.
After this transaction took place, Rimer now holds 92,773 shares in the company valued at $14,843,680.
Overall, insiders have sold 28,632 shares of Chord Energy’s company stock over the last 90 days with a total value amounting to approximately $4
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