Rafferty Asset Management LLC Reduces Position in Chord Energy Corporation $CHRD

Rafferty Asset Management LLC lessened its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 8.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,790 shares of the company’s stock after selling 4,721 shares during the period. Rafferty Asset Management LLC owned approximately 0.09% of Chord Energy worth $5,725,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHRD. Mariner LLC grew its position in Chord Energy by 42.7% during the 4th quarter. Mariner LLC now owns 5,207 shares of the company’s stock worth $609,000 after purchasing an additional 1,559 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Chord Energy by 10.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,071 shares of the company’s stock worth $4,335,000 after purchasing an additional 3,359 shares during the last quarter. MGO One Seven LLC grew its position in Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company’s stock worth $208,000 after purchasing an additional 111 shares during the last quarter. Northern Trust Corp grew its position in Chord Energy by 3.3% during the 4th quarter. Northern Trust Corp now owns 474,203 shares of the company’s stock worth $55,444,000 after purchasing an additional 15,070 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Chord Energy by 216.2% during the 4th quarter. AQR Capital Management LLC now owns 147,946 shares of the company’s stock worth $17,066,000 after purchasing an additional 101,150 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group upped their price objective on shares of Chord Energy from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Mizuho dropped their price objective on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Citigroup upped their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Bank of America dropped their price objective on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $148.92.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $109.84 on Friday. The company’s fifty day moving average price is $104.69 and its 200 day moving average price is $101.66. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $150.11. The company has a market capitalization of $6.29 billion, a PE ratio of 27.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $984.07 million. During the same period last year, the company posted $4.69 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. Chord Energy’s dividend payout ratio is 132.32%.

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.