LSV Asset Management Sells 6,440 Shares of Chord Energy Co. (NASDAQ:CHRD)

LSV Asset Management lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 4.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 125,480 shares of the company’s stock after selling 6,440 shares during the period. LSV Asset Management’s holdings in Chord Energy were worth $21,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Chord Energy in the first quarter worth approximately $31,000. GAMMA Investing LLC lifted its position in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Chord Energy in the 2nd quarter worth approximately $60,000. Quadrant Capital Group LLC boosted its stake in shares of Chord Energy by 94.3% in the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares during the last quarter. Finally, LGT Financial Advisors LLC increased its position in shares of Chord Energy by 480.0% during the second quarter. LGT Financial Advisors LLC now owns 406 shares of the company’s stock worth $68,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD opened at $132.21 on Wednesday. The business’s fifty day moving average is $159.30 and its 200 day moving average is $168.93. Chord Energy Co. has a 12-month low of $130.25 and a 12-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. The stock has a market cap of $8.18 billion, a P/E ratio of 6.18, a P/E/G ratio of 4.54 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during 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 firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted $3.65 earnings per share. Sell-side analysts anticipate that Chord Energy Co. will post 19.61 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CHRD. BMO Capital Markets assumed coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. 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 objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Truist Financial dropped their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.10.

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.