Westwood Holdings Group Inc. Acquires 30,077 Shares of Chord Energy Co. (NASDAQ:CHRD)

Westwood Holdings Group Inc. increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 28.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,411 shares of the company’s stock after buying an additional 30,077 shares during the quarter. Westwood Holdings Group Inc. owned 0.33% of Chord Energy worth $24,492,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in shares of Chord Energy during the 1st quarter worth $31,000. SRS Capital Advisors Inc. grew its holdings in Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares during the period. Lindbrook Capital LLC increased its position in Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares in the last quarter. Quadrant Capital Group LLC increased its position in Chord Energy by 94.3% in the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after buying an additional 197 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Chord Energy during the 1st quarter valued at about $72,000. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CHRD. Mizuho lifted their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada boosted their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. BMO Capital Markets began coverage on Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price on the stock. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Piper Sandler lifted their price objective on shares of Chord Energy from $233.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.78.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $10.72 during mid-day trading on Friday, hitting $155.87. 864,228 shares of the company’s stock traded hands, compared to its average volume of 649,722. The company has a market capitalization of $6.50 billion, a P/E ratio of 7.31, a PEG ratio of 0.92 and a beta of 1.01. Chord Energy Co. has a 1 year low of $148.32 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The company’s 50-day moving average is $171.17 and its two-hundred day moving average is $170.17.

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

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $2.94 per share. This represents a $11.76 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is 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.