Cwm LLC Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

Cwm LLC decreased its stake in Chord Energy Co. (NASDAQ:CHRD) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,167 shares of the company’s stock after selling 544 shares during the quarter. Cwm LLC’s holdings in Chord Energy were worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vest Financial LLC raised its holdings in Chord Energy by 36.0% in the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock worth $13,181,000 after purchasing an additional 20,995 shares during the period. Federated Hermes Inc. raised its holdings in Chord Energy by 35.4% in the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $6,403,000 after purchasing an additional 10,075 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Chord Energy by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after purchasing an additional 53,992 shares during the period. Natixis Advisors L.P. raised its holdings in Chord Energy by 68.5% in the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock worth $6,233,000 after purchasing an additional 15,632 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Chord Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after purchasing an additional 21,034 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CHRD shares. Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Truist Financial reduced their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Piper Sandler increased their target price on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and reduced their target price 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 issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $191.50.

Insider Buying and Selling

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

Chord Energy Price Performance

CHRD stock opened at $185.58 on Friday. 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 business has a 50 day simple moving average of $172.98 and a 200-day simple moving average of $165.46. The firm has a market capitalization of $7.71 billion, a PE ratio of 7.89 and a beta of 1.06. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million during 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%. Equities research analysts anticipate that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.01%. Chord Energy’s dividend payout ratio is 21.25%.

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.