AQR Capital Management LLC Sells 65,304 Shares of Chord Energy Co. (NASDAQ:CHRD)

AQR Capital Management LLC trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD) by 38.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 104,990 shares of the company’s stock after selling 65,304 shares during the quarter. AQR Capital Management LLC owned 0.25% of Chord Energy worth $17,528,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Chord Energy by 26.3% in the 4th quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $199,000 after acquiring an additional 250 shares during the last quarter. Stifel Financial Corp lifted its position in Chord Energy by 145.4% in the fourth quarter. Stifel Financial Corp now owns 55,913 shares of the company’s stock valued at $9,294,000 after purchasing an additional 33,129 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Chord Energy by 61,650.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,235 shares of the company’s stock valued at $205,000 after purchasing an additional 1,233 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Chord Energy by 5.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 247,807 shares of the company’s stock worth $41,193,000 after purchasing an additional 12,960 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after buying an additional 138,957 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 0.3 %

NASDAQ CHRD opened at $130.59 on Wednesday. The firm has a market capitalization of $5.44 billion, a PE ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.99. The stock’s 50 day moving average is $147.58 and its 200 day moving average is $165.92. Chord Energy Co. has a twelve month low of $126.96 and a twelve month high of $190.23. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.65 EPS. Research analysts forecast that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of several analyst reports. Truist Financial dropped their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Jefferies Financial Group started coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.90.

Chord Energy 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.