Los Angeles Capital Management LLC Has $3.26 Million Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Los Angeles Capital Management LLC reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,621 shares of the company’s stock after selling 2,206 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Chord Energy were worth $3,262,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CHRD. Vanguard Group Inc. lifted its position in shares of Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after acquiring an additional 21,034 shares during the period. FMR LLC raised its holdings in shares of Chord Energy by 12.9% during the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after purchasing an additional 364,673 shares during the period. Wellington Management Group LLP boosted its position in shares of Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after purchasing an additional 26,896 shares in the last quarter. Jennison Associates LLC increased its position in Chord Energy by 0.4% in the 3rd quarter. Jennison Associates LLC now owns 802,175 shares of the company’s stock valued at $130,009,000 after buying an additional 2,837 shares in the last quarter. Finally, Sourcerock Group LLC increased its position in Chord Energy by 1.1% in the 3rd quarter. Sourcerock Group LLC now owns 612,943 shares of the company’s stock valued at $99,340,000 after buying an additional 6,402 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.4 %

Shares of NASDAQ CHRD opened at $175.98 on Monday. The business has a 50-day simple moving average of $174.36 and a two-hundred day simple moving average of $165.81. Chord Energy Co. has a 52 week low of $133.61 and a 52 week high of $190.23. The company has a market cap of $7.31 billion, a P/E ratio of 7.48 and a beta of 1.07. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $964.69 million during the quarter, compared to analysts’ expectations of $891.67 million. Research analysts anticipate that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CHRD shares. Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Truist Financial dropped their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Stifel Nicolaus increased their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Piper Sandler boosted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.50.

Insider Buying and Selling

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Chord Energy Company 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.