Cetera Investment Advisers Sells 5,692 Shares of Chord Energy Co. (NASDAQ:CHRD)

Cetera Investment Advisers cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,943 shares of the company’s stock after selling 5,692 shares during the period. Cetera Investment Advisers’ holdings in Chord Energy were worth $2,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Pacer Advisors Inc. increased its position in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after acquiring an additional 619,021 shares in the last quarter. FMR LLC increased its position in shares of Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after acquiring an additional 394,372 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Chord Energy during the fourth quarter worth about $29,984,000. Finally, Marshall Wace LLP increased its position in shares of Chord Energy by 164.6% during the fourth quarter. Marshall Wace LLP now owns 334,641 shares of the company’s stock worth $39,126,000 after acquiring an additional 208,170 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 0.8%

CHRD opened at $96.67 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 4.98, a PEG ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02. The company’s 50-day moving average price is $98.06 and its two-hundred day moving average price is $111.46.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.10 earnings per share. As a group, equities analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

Wall Street Analyst Weigh In

CHRD has been the subject of several recent research reports. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company cut their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Piper Sandler cut their price target on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $153.92.

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.