Johnson Investment Counsel Inc. Buys New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Johnson Investment Counsel Inc. purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRDFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,269 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently bought and sold shares of CHRD. Vest Financial LLC increased its holdings in shares of Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock worth $13,181,000 after acquiring an additional 20,995 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Chord Energy by 35.4% in the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $6,403,000 after purchasing an additional 10,075 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Chord Energy by 12.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after purchasing an additional 53,992 shares during the period. LSV Asset Management acquired a new stake in shares of Chord Energy during the 4th quarter worth about $16,549,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Chord Energy by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 497,088 shares of the company’s stock valued at $82,631,000 after buying an additional 14,616 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Buying and Selling

In other 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 transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Chord Energy Price Performance

Chord Energy stock opened at $182.27 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy Co. has a 52 week low of $137.78 and a 52 week high of $190.23. The stock has a market capitalization of $7.60 billion, a P/E ratio of 8.55 and a beta of 1.07. The stock has a fifty day moving average of $177.29 and a 200-day moving average of $166.53.

Chord Energy (NASDAQ:CHRDGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. During the same quarter in the prior year, the business earned $4.50 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts expect that Chord Energy Co. will post 22.29 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a $2.94 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a yield of 6.45%. Chord Energy’s payout ratio is 23.46%.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Piper Sandler upped their price objective on Chord Energy from $230.00 to $231.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial dropped 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. Royal Bank of Canada raised their price target 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. Finally, Mizuho boosted their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday. One equities 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 company’s stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $195.50.

Check Out Our Latest Stock Report on CHRD

About Chord Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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