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

Los Angeles Capital Management LLC lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 87.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,151 shares of the company’s stock after selling 22,067 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Chord Energy were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its holdings in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Millennium Management LLC raised its holdings in Chord Energy by 226.5% during the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after purchasing an additional 483,144 shares in the last quarter. Finally, KGH Ltd raised its holdings in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after purchasing an additional 435,998 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup cut their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. Finally, Bank of America raised their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $127.28 on Monday. The firm’s fifty day moving average price is $131.20 and its 200 day moving average price is $154.15. Chord Energy Co. has a 1-year low of $123.30 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business earned $5.04 earnings per share. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy Co. will post 16.8 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.93%. Chord Energy’s payout ratio is currently 25.75%.

Insiders Place Their Bets

In other news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This represents a 3.59 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

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.