International Assets Investment Management LLC Takes $24.32 Million Position in Chord Energy Co. (NASDAQ:CHRD)

International Assets Investment Management LLC bought a new position in Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 14,628 shares of the company’s stock, valued at approximately $24,320,000.

Several other large investors have also modified their holdings of CHRD. Commonwealth Equity Services LLC raised its stake in shares of Chord Energy by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after purchasing an additional 67 shares in the last quarter. Fifth Third Bancorp boosted its stake in Chord Energy by 15.4% in the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Chord Energy by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock worth $1,938,000 after purchasing an additional 70 shares during the period. Contravisory Investment Management Inc. increased its stake in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. boosted its position in shares of Chord Energy by 1.6% during the third quarter. Hussman Strategic Advisors Inc. now owns 6,300 shares of the company’s stock worth $1,021,000 after purchasing an additional 100 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the transaction, the chief financial officer now 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 can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the subject of a number of research analyst reports. Mizuho upped their target price on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Piper Sandler upped their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada increased their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Stifel Nicolaus lifted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $193.50.

Chord Energy Trading Up 0.4 %

Shares of Chord Energy stock opened at $175.98 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 12-month low of $133.61 and a 12-month high of $190.23. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 7.48 and a beta of 1.07. The firm’s 50-day moving average price is $174.36 and its two-hundred day moving average price is $165.88.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. On average, analysts forecast that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.39%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 21.25%.

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.