Vanguard Group Inc. Sells 7,327 Shares of Chord Energy Co. (NASDAQ:CHRD)

Vanguard Group Inc. reduced its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,344,066 shares of the company’s stock after selling 7,327 shares during the period. Vanguard Group Inc. owned 10.48% of Chord Energy worth $722,114,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHRD. Wellington Management Group LLP grew its position in shares of Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after buying an additional 26,896 shares during the period. First Trust Advisors LP grew its holdings in Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the period. Dimensional Fund Advisors LP increased its stake in Chord Energy by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after purchasing an additional 21,399 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 50.8% in the fourth quarter. Boston Partners now owns 630,977 shares of the company’s stock worth $104,815,000 after purchasing an additional 212,463 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Chord Energy by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,088 shares of the company’s stock worth $82,631,000 after purchasing an additional 14,616 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CHRD. Truist Financial dropped their price objective on Chord Energy from $228.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Stifel Nicolaus boosted their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Royal Bank of Canada increased their target price on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Piper Sandler lifted their price target on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Bank of America reiterated a “buy” rating and issued a $201.00 price target on shares of Chord Energy in a report on Friday, June 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $204.00.

Chord Energy Stock Performance

Shares of CHRD stock opened at $164.49 on Friday. Chord Energy Co. has a 12 month low of $145.06 and a 12 month high of $190.23. The company’s fifty day simple moving average is $177.06 and its 200-day simple moving average is $168.62. The firm has a market cap of $6.86 billion, a PE ratio of 7.72, a P/E/G ratio of 0.81 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.75 by $0.35. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.50 EPS. Equities research analysts expect that Chord Energy Co. will post 22.39 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $2.94 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a yield of 7.15%. Chord Energy’s dividend payout ratio is 23.46%.

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.