Worldquant Millennium Advisors LLC Purchases New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Worldquant Millennium Advisors LLC purchased a new stake in Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 98,646 shares of the company’s stock, valued at approximately $11,534,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Chord Energy in the 4th quarter valued at about $25,000. Twin Tree Management LP acquired a new position in Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC increased its position in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after acquiring an additional 224 shares during the period. R Squared Ltd acquired a new position in Chord Energy in the 4th quarter valued at about $51,000. Finally, Venturi Wealth Management LLC increased its position in Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after acquiring an additional 473 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was 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 approximately $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $90.54 on Thursday. The business’s 50 day simple moving average is $97.36 and its 200-day simple moving average is $111.00. The firm has a market capitalization 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 debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02.

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

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is 34.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHRD. Royal Bank of Canada dropped their price target on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Piper Sandler lowered their price objective on Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Finally, Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price 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.