GAMMA Investing LLC Sells 158 Shares of Chord Energy Co. (NASDAQ:CHRD)

GAMMA Investing LLC decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 38.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 256 shares of the company’s stock after selling 158 shares during the quarter. GAMMA Investing LLC’s holdings in Chord Energy were worth $30,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CHRD. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy in the 2nd quarter valued at about $40,000. State of New Jersey Common Pension Fund D increased its holdings in Chord Energy by 3.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock valued at $3,029,000 after buying an additional 624 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Chord Energy by 757.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock valued at $590,000 after buying an additional 3,142 shares during the period. Parallel Advisors LLC raised its stake in Chord Energy by 17.3% in the second quarter. Parallel Advisors LLC now owns 2,211 shares of the company’s stock worth $371,000 after buying an additional 326 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Chord Energy by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 139,711 shares of the company’s stock worth $23,427,000 after buying an additional 16,877 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

CHRD has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group decreased their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. BMO Capital Markets cut their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.23.

Chord Energy Stock Performance

Shares of CHRD stock opened at $126.70 on Wednesday. The stock’s 50-day moving average is $122.60 and its two-hundred day moving average is $138.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a 1 year low of $109.59 and a 1 year high of $190.23. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 4.79 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $5.04 earnings per share. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. Analysts predict that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.95%. Chord Energy’s dividend payout ratio is currently 25.75%.

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.