Vanguard Group Inc. Sells 60,089 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Vanguard Group Inc. reduced its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,335,375 shares of the company’s stock after selling 60,089 shares during the period. Vanguard Group Inc. owned 0.11% of Chord Energy worth $714,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. American Assets Inc. bought a new position in Chord Energy in the 1st quarter worth approximately $789,000. Atria Wealth Solutions Inc. bought a new stake in shares of Chord Energy during the first quarter valued at approximately $331,000. Factorial Partners LLC increased its position in shares of Chord Energy by 3.9% during the first quarter. Factorial Partners LLC now owns 53,000 shares of the company’s stock valued at $5,974,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Chord Energy by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company’s stock valued at $329,000 after purchasing an additional 118 shares during the period. Finally, Lindenwold Advisors INC bought a new stake in shares of Chord Energy during the first quarter valued at approximately $258,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Shares of CHRD stock opened at $100.05 on Wednesday. The stock’s fifty day simple moving average is $103.82 and its 200 day simple moving average is $102.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 25.46 and a beta of 0.97. Chord Energy Corporation has a one year low of $79.83 and a one year high of $156.12.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%. Chord Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.69 EPS. On average, analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. Chord Energy’s payout ratio is currently 132.32%.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research reports. UBS Group restated a “buy” rating and set a $120.00 price objective (up from $113.00) on shares of Chord Energy in a research report on Tuesday. Piper Sandler boosted their price objective on Chord Energy from $159.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Citigroup boosted their price objective on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Finally, Bank of America lowered their price objective on Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.38.

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.