Janus Henderson Group PLC Has $87 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Janus Henderson Group PLC lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.5% during the first quarter, Holdings Channel.com reports. The firm owned 488,105 shares of the company’s stock after selling 2,347 shares during the period. Janus Henderson Group PLC’s holdings in Chord Energy were worth $86,999,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Boston Partners boosted its holdings in Chord Energy by 50.8% in the fourth quarter. Boston Partners now owns 630,977 shares of the company’s stock worth $104,815,000 after acquiring an additional 212,463 shares in the last quarter. Jennison Associates LLC lifted its stake in Chord Energy by 40.5% during the 1st quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock valued at $93,525,000 after acquiring an additional 151,218 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Chord Energy by 847.8% in the 1st quarter. Anchor Capital Advisors LLC now owns 139,424 shares of the company’s stock worth $24,851,000 after buying an additional 124,714 shares during the last quarter. Finally, LSV Asset Management purchased a new position in Chord Energy in the fourth quarter worth $16,549,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHRD. Royal Bank of Canada increased their target price on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Piper Sandler lifted their price objective on shares of Chord Energy from $233.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Bank of America restated a “buy” rating and set a $201.00 price target on shares of Chord Energy in a research report on Friday, June 14th. Finally, BMO Capital Markets assumed coverage on Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.78.

Chord Energy Stock Performance

Shares of Chord Energy stock traded up $3.13 during trading on Wednesday, hitting $172.48. 114,125 shares of the company’s stock traded hands, compared to its average volume of 905,489. Chord Energy Co. has a 1 year low of $148.32 and a 1 year high of $190.23. The business has a 50-day simple moving average of $171.97 and a 200-day simple moving average of $170.20. The stock has a market capitalization of $7.19 billion, a P/E ratio of 8.08, a PEG ratio of 0.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. During the same period in the previous year, the business posted $4.50 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, analysts forecast that Chord Energy Co. will post 20.85 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a $2.94 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.82%. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

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.