Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 12.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 491,737 shares of the company’s stock after purchasing an additional 53,992 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.19% of Chord Energy worth $81,742,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Chord Energy during the fourth quarter worth approximately $28,000. Contravisory Investment Management Inc. increased its stake in Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Chord Energy in the fourth quarter valued at approximately $48,000. Viking Fund Management LLC increased its stake in Chord Energy by 40.0% in the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in Chord Energy in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the subject of several research analyst reports. Piper Sandler increased their price objective on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Truist Financial decreased their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Stifel Nicolaus increased their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Mizuho increased their price objective on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $177.00 to $165.00 in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $190.40.

Chord Energy Stock Up 0.2 %

CHRD opened at $184.32 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 7.83 and a beta of 1.06. The business has a 50-day moving average of $165.72 and a two-hundred day moving average of $163.31. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $185.98.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. On average, research analysts expect that Chord Energy Co. will post 21.97 earnings per share for the current year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.05%. Chord Energy’s payout ratio is currently 21.25%.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

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.