Parallel Advisors LLC Grows Holdings in Chord Energy Co. (NASDAQ:CHRD)

Parallel Advisors LLC grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRDFree Report) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,200 shares of the company’s stock after buying an additional 250 shares during the quarter. Parallel Advisors LLC’s holdings in Chord Energy were worth $199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 buying an additional 21,034 shares during the last quarter. FMR LLC raised its position in shares of Chord Energy by 12.9% during the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after acquiring an additional 364,673 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock valued at $432,966,000 after acquiring an additional 26,896 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chord Energy by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after acquiring an additional 21,399 shares in the last quarter. Finally, Boston Partners raised its position in shares of Chord Energy by 50.8% during the 4th quarter. Boston Partners now owns 630,977 shares of the company’s stock valued at $104,815,000 after acquiring an additional 212,463 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHRD. Piper Sandler upped their price target on Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Royal Bank of Canada upped their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. BMO Capital Markets initiated coverage on Chord Energy in a research report on Monday. They set an “outperform” rating and a $230.00 price target on the stock. Stifel Nicolaus raised their target price on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Mizuho raised their target price on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $200.40.

View Our Latest Research Report on CHRD

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $176.76 on Tuesday. Chord Energy Co. has a fifty-two week low of $143.69 and a fifty-two week high of $190.23. The firm’s 50-day simple moving average is $180.82 and its 200 day simple moving average is $168.00. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The stock has a market cap of $7.37 billion, a P/E ratio of 8.29 and a beta of 1.05.

Chord Energy (NASDAQ:CHRDGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. During the same period in the previous year, the business earned $4.50 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Equities analysts expect that Chord Energy Co. will post 22.61 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a dividend of $2.94 per share. This represents a $11.76 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Tuesday, May 21st. Chord Energy’s payout ratio is currently 23.46%.

Chord Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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