Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,637 shares of the company’s stock after selling 94 shares during the quarter. Park Avenue Securities LLC’s holdings in Chord Energy were worth $648,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Xponance Inc. grew its stake in shares of Chord Energy by 1.3% in the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after purchasing an additional 77 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after purchasing an additional 85 shares during the period. Viking Fund Management LLC grew its position in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after buying an additional 100 shares in the last quarter. Lindbrook Capital LLC increased its stake in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the period. Finally, Miller Howard Investments Inc. NY increased its stake in Chord Energy by 0.6% during the 4th quarter. Miller Howard Investments Inc. NY now owns 27,558 shares of the company’s stock valued at $4,581,000 after buying an additional 166 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRD has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Bank of America reaffirmed a “buy” rating and set a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Piper Sandler boosted their price objective on Chord Energy from $231.00 to $233.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Royal Bank of Canada raised their target price on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, BMO Capital Markets began coverage on shares of Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $204.00.

Chord Energy Trading Up 1.1 %

NASDAQ:CHRD opened at $167.13 on Friday. The stock has a fifty day simple moving average of $175.88 and a 200 day simple moving average of $168.85. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.05. Chord Energy Co. has a 1-year low of $145.06 and a 1-year high of $190.23. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 EPS 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 company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. During the same period in the prior year, the firm earned $4.50 earnings per share. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts forecast that Chord Energy Co. will post 22.39 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s payout ratio is 23.46%.

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.