Chord Energy Co. (NASDAQ:CHRD) Shares Bought by CoreCommodity Management LLC

CoreCommodity Management LLC lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,481 shares of the company’s stock after purchasing an additional 2,717 shares during the period. CoreCommodity Management LLC’s holdings in Chord Energy were worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CHRD. FMR LLC lifted its stake in Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after buying an additional 394,372 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after acquiring an additional 619,021 shares during the period. Boston Partners raised its position in Chord Energy by 5.6% in the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after purchasing an additional 115,215 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after purchasing an additional 627,122 shares during the period. Finally, American Century Companies Inc. grew its position in Chord Energy by 15.0% during the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock worth $130,491,000 after purchasing an additional 145,627 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on CHRD shares. Bank of America raised Chord Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $125.00 to $114.00 in a research note on Tuesday, April 29th. Piper Sandler decreased their price target on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Truist Financial boosted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.08.

Chord Energy Trading Up 0.3 %

Shares of CHRD opened at $90.52 on Wednesday. The firm’s 50-day moving average is $99.56 and its two-hundred day moving average is $113.36. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02. 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 $5.38 billion, a P/E ratio of 4.66, a PEG ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The business 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 company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.10 EPS. On average, research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.74%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

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.