Vident Advisory LLC Buys 5,353 Shares of Chord Energy Co. (NASDAQ:CHRD)

Vident Advisory LLC increased its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 39.8% during the fourth quarter, HoldingsChannel reports. The fund owned 18,805 shares of the company’s stock after acquiring an additional 5,353 shares during the quarter. Vident Advisory LLC’s holdings in Chord Energy were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CHRD. Barclays PLC increased its position in Chord Energy by 3.7% during the third quarter. Barclays PLC now owns 64,711 shares of the company’s stock worth $8,427,000 after acquiring an additional 2,318 shares during the period. Tallon Kerry Patrick bought a new stake in Chord Energy in the 4th quarter valued at $204,000. Merit Financial Group LLC bought a new stake in Chord Energy in the 4th quarter valued at $553,000. Nisa Investment Advisors LLC increased its holdings in Chord Energy by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,049 shares of the company’s stock valued at $473,000 after buying an additional 344 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after buying an additional 110 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 4.3%

Shares of NASDAQ CHRD opened at $90.54 on Thursday. The firm’s 50-day simple moving average is $97.36 and its 200 day simple moving average is $111.00. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 4.66, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $5.10 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.74%. Chord Energy’s payout ratio is presently 34.78%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CHRD. Citigroup lowered their price target on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Bank of America raised shares of Chord Energy from a “neutral” rating to a “buy” rating and lowered their price target for the company from $125.00 to $114.00 in a report on Tuesday, April 29th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Finally, Mizuho lowered 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.92.

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.