Ascent Group LLC Buys 1,731 Shares of Chord Energy Co. (NASDAQ:CHRD)

Ascent Group LLC boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,300 shares of the company’s stock after purchasing an additional 1,731 shares during the quarter. Ascent Group LLC’s holdings in Chord Energy were worth $2,023,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CHRD. FMR LLC grew its stake in shares of Chord Energy by 11.5% in 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 during the last quarter. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 27.6% in 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 during the last quarter. Boston Partners grew its stake in shares of Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after acquiring an additional 115,215 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Chord Energy by 50.4% in 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 during the last quarter. Finally, American Century Companies Inc. lifted its position in Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock worth $130,491,000 after purchasing an additional 145,627 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $89.65 on Monday. The stock has a 50-day moving average price of $96.63 and a 200 day moving average price of $110.20. 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 firm has a market cap of $5.18 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 5.83 and a beta of 0.99. 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 data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion during 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 revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $5.10 earnings per share. Research analysts expect that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.80%. Chord Energy’s payout ratio is currently 34.78%.

Analysts Set New Price Targets

CHRD has been the subject of several research reports. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Bank of America lowered their target price on Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada lowered their target price on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup lowered their target price on Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $153.77.

Chord Energy 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.