Chord Energy Co. (NASDAQ:CHRD) Stock Holdings Lessened by Oak Thistle LLC

Oak Thistle LLC cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 38.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,310 shares of the company’s stock after selling 2,713 shares during the quarter. Oak Thistle LLC’s holdings in Chord Energy were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHRD. State of New Jersey Common Pension Fund D boosted its position in shares of Chord Energy by 3.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock valued at $3,029,000 after purchasing an additional 624 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Chord Energy by 757.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock worth $590,000 after buying an additional 3,142 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Chord Energy by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 139,711 shares of the company’s stock valued at $23,427,000 after acquiring an additional 16,877 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Chord Energy by 44.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 35,604 shares of the company’s stock valued at $5,970,000 after acquiring an additional 11,010 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Chord Energy in the 2nd quarter worth approximately $416,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CHRD shares. Mizuho cut their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Down 1.2 %

CHRD stock opened at $126.26 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.72 billion, a PE ratio of 6.50, a PEG ratio of 5.57 and a beta of 0.99. Chord Energy Co. has a 1 year low of $109.59 and a 1 year high of $190.23. The company has a fifty day simple moving average of $122.38 and a 200 day simple moving average of $138.20.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.04 EPS. Sell-side analysts anticipate that Chord Energy Co. will post 16.33 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.96%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.