Point72 Asia Singapore Pte. Ltd. Has $1.62 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

Point72 Asia Singapore Pte. Ltd. raised its holdings in Chord Energy Co. (NASDAQ:CHRD) by 105.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,852 shares of the company’s stock after buying an additional 7,126 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Chord Energy were worth $1,620,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of Chord Energy by 50.4% during the fourth 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. Victory Capital Management Inc. grew its holdings in 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 buying an additional 619,021 shares in the last quarter. FMR LLC increased its position in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after buying an additional 394,372 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of Chord Energy during the fourth quarter worth $43,745,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Chord Energy during the fourth quarter worth $29,984,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho decreased their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler decreased their target price on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. 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. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.92.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Stock Down 1.5%

NASDAQ CHRD opened at $97.98 on Thursday. The business has a fifty day moving average price of $98.36 and a two-hundred day moving average price of $112.07. The stock has a market capitalization of $5.83 billion, a PE ratio of 5.05, a PEG ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion during 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%. Chord Energy’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.10 EPS. Equities analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders 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 yield of 5.31%. The ex-dividend date is Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

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.