Lindbrook Capital LLC Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Lindbrook Capital LLC boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 67.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 305 shares of the company’s stock after buying an additional 123 shares during the quarter. Lindbrook Capital LLC’s holdings in Chord Energy were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHRD. Contravisory Investment Management Inc. raised its holdings in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares during the last quarter. Viking Fund Management LLC raised its stake in Chord Energy by 40.0% in the 4th 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. Fifth Third Bancorp lifted its holdings in Chord Energy by 15.4% in the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after purchasing an additional 70 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Chord Energy during the fourth quarter worth about $183,000. Finally, Blue Trust Inc. boosted its holdings in shares of Chord Energy by 25.7% during the 4th quarter. Blue Trust Inc. now owns 1,144 shares of the company’s stock worth $185,000 after purchasing an additional 234 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $184.58 on Friday. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 7.84 and a beta of 1.06. 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 moving average of $172.11 and a 200 day moving average of $165.17. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted 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 business had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. As a group, sell-side analysts forecast that Chord Energy Co. will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a $3.25 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHRD. Mizuho lifted their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus boosted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Piper Sandler upped their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial cut their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and decreased their price target for the company from $177.00 to $165.00 in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.50.

About Chord Energy

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.