Cetera Investment Advisers Has $2.10 Million Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Cetera Investment Advisers decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,943 shares of the company’s stock after selling 5,692 shares during the period. Cetera Investment Advisers’ holdings in Chord Energy were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Baird Financial Group Inc. boosted its position in shares of Chord Energy by 4.3% during the 4th quarter. Baird Financial Group Inc. now owns 6,338 shares of the company’s stock worth $741,000 after acquiring an additional 259 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Chord Energy by 9.1% during the 4th quarter. Benjamin Edwards Inc. now owns 3,400 shares of the company’s stock worth $398,000 after acquiring an additional 283 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Chord Energy during the 4th quarter worth approximately $4,721,000. Ameriprise Financial Inc. boosted its position in shares of Chord Energy by 8.6% during the 4th quarter. Ameriprise Financial Inc. now owns 108,561 shares of the company’s stock worth $12,693,000 after acquiring an additional 8,621 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Chord Energy during the 4th quarter worth approximately $14,515,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CHRD shares. Piper Sandler cut their target price on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and cut their target price for the company from $125.00 to $114.00 in a research report on Tuesday, April 29th. Wells Fargo & Company cut their target price on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Mizuho cut their target price on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.92.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $96.67 on Monday. The firm has a market cap of $5.58 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The firm’s fifty day moving average is $98.06 and its 200-day moving average is $111.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.10 earnings per share. Sell-side analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

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.