Nisa Investment Advisors LLC Reduces Stock Position in Chord Energy Corporation (NASDAQ:CHRD)

Nisa Investment Advisors LLC cut its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 24.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,044 shares of the company’s stock after selling 1,005 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chord Energy were worth $343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHRD. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the 4th quarter worth approximately $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the 4th quarter worth approximately $33,000. Hexagon Capital Partners LLC increased its holdings in Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares during the last quarter. Fifth Third Bancorp increased its holdings in Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock worth $79,000 after purchasing an additional 462 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy during the 4th quarter worth approximately $80,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president directly owned 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Trading Down 1.8%

NASDAQ:CHRD opened at $102.20 on Thursday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $181.17. The firm has a market capitalization of $5.90 billion, a P/E ratio of 6.84 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The business has a 50 day simple moving average of $98.78 and a 200 day simple moving average of $104.50.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $5.10 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

Analysts Set New Price Targets

Several research firms have issued reports on CHRD. Bank of America dropped their price objective on Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Piper Sandler decreased their target price on Chord Energy from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada decreased their target price on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, Citigroup lifted their target price on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.15.

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.