Dimensional Fund Advisors LP Acquires New Shares in Chord Energy Co. (NASDAQ:CHRD)

Dimensional Fund Advisors LP acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 849,053 shares of the company’s stock, valued at approximately $116,158,000.

Several other hedge funds also recently modified their holdings of CHRD. Crewe Advisors LLC acquired a new position in Chord Energy during the 4th quarter worth about $25,000. Armstrong Advisory Group Inc. acquired a new position in Chord Energy during the 4th quarter worth about $25,000. Fifth Third Bancorp acquired a new position in Chord Energy during the 4th quarter worth about $29,000. Adams Natural Resources Fund Inc. acquired a new position in Chord Energy during the 4th quarter worth about $31,000. Finally, Ellevest Inc. acquired a new position in Chord Energy during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 93.47% of the company’s stock.

Insider Activity at Chord Energy

In related news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $144.94, for a total value of $434,820.00. Following the transaction, the director now owns 238,098 shares in the company, valued at $34,509,924.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 9,000 shares of company stock worth $1,282,590. Insiders own 0.52% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $146.97 on Friday. Chord Energy Co. has a twelve month low of $93.35 and a twelve month high of $181.34. The stock’s 50 day moving average price is $137.41 and its 200-day moving average price is $139.85. The company has a market capitalization of $6.11 billion, a PE ratio of 3.48, a PEG ratio of 0.33 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.18 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.89 by ($0.61). Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $875.33 million. On average, equities analysts anticipate that Chord Energy Co. will post 22.33 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be paid a $3.22 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a dividend yield of 3.5%. Chord Energy’s payout ratio is presently 11.85%.

Wall Street Analyst Weigh In

Several research analysts have commented on CHRD shares. Stifel Nicolaus lifted their target price on Chord Energy from $182.00 to $185.00 in a report on Thursday, April 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 price objective on shares of Chord Energy in a research report on Thursday, March 30th. Bank of America started coverage on Chord Energy in a research report on Wednesday, January 25th. They issued a “buy” rating and a $178.00 price objective for the company. Mizuho lowered their price objective on Chord Energy from $179.00 to $172.00 in a research report on Friday. Finally, Truist Financial lowered their price objective on Chord Energy from $252.00 to $246.00 in a research report on Monday, May 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.25.

About Chord Energy

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.