Victory Capital Management Inc. Buys 9,934 Shares of Chord Energy Co. (NASDAQ:CHRD)

Victory Capital Management Inc. raised its stake in Chord Energy Co. (NASDAQ:CHRD) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 288,668 shares of the company’s stock after purchasing an additional 9,934 shares during the quarter. Victory Capital Management Inc. owned 0.70% of Chord Energy worth $47,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHRD. Contravisory Investment Management Inc. raised its holdings in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares in the last quarter. Viking Fund Management LLC raised its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Chord Energy during the fourth quarter valued at approximately $183,000. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHRD. Mizuho upped their target price on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus increased their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Royal Bank of Canada increased their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Truist Financial decreased their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Piper Sandler increased their price objective on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.50.

Chord Energy Trading Up 0.4 %

NASDAQ CHRD opened at $175.98 on Monday. Chord Energy Co. has a 12 month low of $133.61 and a 12 month high of $190.23. The stock has a market cap of $7.31 billion, a P/E ratio of 7.48 and a beta of 1.07. The stock’s fifty day moving average price is $174.36 and its 200-day moving average price is $165.81. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million for the quarter, compared to analysts’ expectations of $891.67 million. As a group, equities analysts forecast that Chord Energy Co. will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a dividend yield of 7.39%. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

Insider Activity at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

About Chord Energy

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.