Chord Energy Co. (NASDAQ:CHRD) Stake Cut by Valueworks LLC

Valueworks LLC reduced its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 242,758 shares of the company’s stock after selling 2,292 shares during the period. Chord Energy makes up 12.4% of Valueworks LLC’s investment portfolio, making the stock its largest holding. Valueworks LLC owned about 0.58% of Chord Energy worth $32,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHRD. FinTrust Capital Advisors LLC purchased a new stake in shares of Chord Energy in the fourth quarter valued at about $28,000. Assetmark Inc. acquired a new position in Chord Energy during the 1st quarter worth approximately $30,000. CoreCap Advisors LLC purchased a new position in shares of Chord Energy during the 4th quarter worth approximately $39,000. IFP Advisors Inc acquired a new stake in shares of Chord Energy in the 4th quarter valued at approximately $43,000. Finally, Fifth Third Bancorp grew its holdings in Chord Energy by 57.2% during the first quarter. Fifth Third Bancorp now owns 338 shares of the company’s stock worth $45,000 after acquiring an additional 123 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Charles J. Rimer sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $160.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief operating officer now owns 91,273 shares of the company’s stock, valued at $14,603,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Charles J. Rimer sold 1,500 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $160.00, for a total value of $240,000.00. Following the sale, the chief operating officer now directly owns 91,273 shares of the company’s stock, valued at $14,603,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $150.03, for a total transaction of $450,090.00. Following the completion of the sale, the director now directly owns 232,098 shares in the company, valued at $34,821,662.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,132 shares of company stock worth $4,279,950. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHRD. Stifel Nicolaus upped their price objective on Chord Energy from $177.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Truist Financial reissued a “buy” rating and issued a $221.00 target price on shares of Chord Energy in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Chord Energy in a research report on Thursday, August 31st. They issued an “outperform” rating and a $185.00 price target on the stock. Citigroup increased their price target on shares of Chord Energy from $170.00 to $185.00 in a research report on Friday, August 4th. Finally, Piper Sandler decreased their price objective on Chord Energy from $204.00 to $202.00 in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.44.

Chord Energy Stock Performance

NASDAQ CHRD opened at $160.90 on Friday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 3.93, a P/E/G ratio of 0.45 and a beta of 1.28. Chord Energy Co. has a 1-year low of $117.05 and a 1-year high of $167.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.96 and a quick ratio of 0.90. The business’s 50-day simple moving average is $156.36 and its 200-day simple moving average is $146.56.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $3.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.31). Chord Energy had a return on equity of 19.07% and a net margin of 44.17%. The company had revenue of $695.40 million for the quarter, compared to analyst estimates of $677.85 million. During the same period last year, the firm posted $7.30 earnings per share. The business’s revenue was up 29.1% on a year-over-year basis. Equities analysts predict that Chord Energy Co. will post 18.91 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, August 14th. Chord Energy’s payout ratio is presently 12.22%.

Chord Energy Company Profile

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. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.