Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. increased its position in Chord Energy Co. (NASDAQ:CHRD) by 11.4% in the fourth quarter, Holdings Channel reports. The firm owned 260,607 shares of the company’s stock after purchasing an additional 26,743 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Chord Energy were worth $30,470,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock worth $39,435,000 after acquiring an additional 264,828 shares during the last quarter. Two Sigma Advisers LP bought a new position in Chord Energy in the fourth quarter worth about $803,000. Tidal Investments LLC bought a new position in Chord Energy in the fourth quarter worth about $312,000. Thomist Capital Management LP bought a new position in Chord Energy in the fourth quarter worth about $18,446,000. Finally, Scissortail Wealth Management LLC bought a new position in Chord Energy in the fourth quarter worth about $369,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

NASDAQ CHRD opened at $95.03 on Tuesday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02. The business’s fifty day moving average is $97.84 and its two-hundred day moving average is $111.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.10 earnings per share. On average, research analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

Analysts Set New Price Targets

CHRD has been the topic of a number of recent research reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Wells Fargo & Company cut their price target on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Citigroup cut their price target on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Bank of America raised Chord Energy from a “neutral” rating to a “buy” rating and cut their price target for the company from $125.00 to $114.00 in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $153.92.

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.