Daiwa Securities Group Inc. Purchases Shares of 1,102 Chord Energy Co. (NASDAQ:CHRD)

Daiwa Securities Group Inc. acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,102 shares of the company’s stock, valued at approximately $183,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vest Financial LLC lifted its position in shares of Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after acquiring an additional 20,995 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Chord Energy by 12.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after acquiring an additional 53,992 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Chord Energy by 68.5% during the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after acquiring an additional 15,632 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after acquiring an additional 21,034 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Chord Energy by 7.9% during the 3rd quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock valued at $72,061,000 after acquiring an additional 32,429 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and cut their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Piper Sandler increased their target price on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial reduced their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Stifel Nicolaus increased their target price on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.50.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $185.58 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $190.23. The business has a fifty day simple moving average of $172.98 and a 200 day simple moving average of $165.46. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 7.89 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.21. The business had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, sell-side analysts predict that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a yield of 7.01%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio is presently 21.25%.

Chord Energy Company Profile

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.