Victory Capital Management Inc. Takes $28.78 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Posted by Defense World Staff on May 21st, 2023

Victory Capital Management Inc. purchased a new stake in Chord Energy Co. (NASDAQ:CHRD – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 210,109 shares of the company’s stock, valued at approximately $28,779,000. Victory Capital Management Inc. owned about 0.50% of Chord Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CHRD. Armstrong Advisory Group Inc. acquired a new stake in Chord Energy in the fourth quarter valued at $25,000. Crewe Advisors LLC acquired a new stake in Chord Energy in the fourth quarter valued at $25,000. Fifth Third Bancorp acquired a new stake in Chord Energy in the fourth quarter valued at $29,000. Adams Natural Resources Fund Inc. acquired a new stake in Chord Energy in the fourth quarter valued at $31,000. Finally, Ellevest Inc. acquired a new stake in Chord Energy in the fourth quarter valued at $34,000. 93.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In related news, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $142.03, for a total value of $426,090.00. Following the transaction, the director now owns 241,098 shares of the company’s stock, valued at approximately $34,243,148.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 9,000 shares of company stock valued at $1,282,590. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CHRD shares. Royal Bank of Canada restated an “outperform” rating and issued a $190.00 price objective on shares of Chord Energy in a report on Thursday, March 30th. Stifel Nicolaus increased their price target on Chord Energy from $182.00 to $185.00 in a report on Thursday, April 27th. Piper Sandler decreased their price target on Chord Energy from $213.00 to $204.00 in a report on Thursday. Truist Financial decreased their price target on Chord Energy from $252.00 to $246.00 in a report on Monday, May 8th. Finally, Bank of America started coverage on Chord Energy in a report on Wednesday, January 25th. They set a “buy” rating and a $178.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.25.

Chord Energy Price Performance

CHRD stock opened at $146.97 on Friday. The stock has a market capitalization of $6.11 billion, a PE ratio of 3.48, a price-to-earnings-growth ratio of 0.33 and a beta of 1.36. The company’s 50-day moving average is $137.41 and its 200-day moving average is $139.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.13. Chord Energy Co. has a 1 year low of $93.35 and a 1 year high of $181.34.

Chord Energy (NASDAQ:CHRD – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.89 by ($0.61). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $875.33 million. Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. Equities research analysts expect that Chord Energy Co. will post 22.33 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a None dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be given a dividend of $3.22 per share. The ex-dividend date is Monday, May 15th. This represents a dividend yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is presently 11.85%.

Chord Energy Company Profile

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.