Envestnet Asset Management Inc. Has $9.35 Million Stock Holdings in Chord Energy Corporation (NASDAQ:CHRD)

Envestnet Asset Management Inc. decreased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,984 shares of the company’s stock after selling 1,727 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Chord Energy worth $9,354,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CHRD. FMR LLC boosted its holdings in Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Chord Energy in the fourth quarter worth about $43,745,000. Squarepoint Ops LLC boosted its stake in shares of Chord Energy by 365.5% during the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock worth $39,435,000 after acquiring an additional 264,828 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Chord Energy during the 4th quarter valued at about $29,984,000. Finally, Sourcerock Group LLC increased its holdings in shares of Chord Energy by 214.9% during the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company’s stock valued at $36,815,000 after acquiring an additional 214,870 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent analyst reports. Citigroup lifted their price target on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank Of Canada reduced their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Bank of America decreased their price target on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Finally, Piper Sandler upped their price objective on shares of Chord Energy from $159.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.54.

Chord Energy Stock Up 0.4%

NASDAQ CHRD opened at $106.40 on Monday. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $175.55. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 7.12 and a beta of 0.96. The stock’s 50 day moving average is $99.30 and its two-hundred day moving average is $104.18. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $5.10 EPS. Chord Energy’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

Insider Activity

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

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.