Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 10.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 19,621 shares of the company’s stock after selling 2,206 shares during the period. Los Angeles Capital Management LLC’s holdings in Chord Energy were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. increased its holdings in shares of 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 period. Lindbrook Capital LLC raised its position in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares during the last quarter. Viking Fund Management LLC raised its position in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. Fifth Third Bancorp lifted its stake in Chord Energy by 15.4% during the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Chord Energy in the 4th quarter valued at $183,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

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 sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Chord Energy Stock Up 0.4 %

CHRD stock opened at $175.98 on Monday. Chord Energy Co. has a 52 week low of $133.61 and a 52 week high of $190.23. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $174.36 and a 200-day simple moving average of $165.81. The stock has a market capitalization of $7.31 billion, a P/E ratio of 7.48 and a beta of 1.07.

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

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders 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%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. 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.