Rhumbline Advisers Sells 1,731 Shares of Chord Energy Co. (NASDAQ:CHRD)

Rhumbline Advisers decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,516 shares of the company’s stock after selling 1,731 shares during the period. Rhumbline Advisers’ holdings in Chord Energy were worth $18,544,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Chord Energy during the 4th quarter valued at about $25,000. Twin Tree Management LP purchased a new stake in Chord Energy in the fourth quarter worth approximately $33,000. Larson Financial Group LLC grew its position in Chord Energy by 238.3% during the fourth 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 last quarter. Venturi Wealth Management LLC raised its stake in shares of Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after acquiring an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $77,000. Institutional investors own 97.76% of the company’s stock.

Insider Activity

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 3.1%

NASDAQ CHRD opened at $94.89 on Friday. The stock has a 50 day moving average price of $92.61 and a 200-day moving average price of $107.86. Chord Energy Co. has a one year low of $79.83 and a one year high of $181.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $5.48 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $5.10 earnings per share. Chord Energy’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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. This represents a $5.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Wednesday, May 21st. Chord Energy’s dividend payout ratio is currently 34.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CHRD shares. Wells Fargo & Company decreased their target price on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Royal Bank of Canada decreased their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Bank of America dropped their target price on Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Finally, Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $153.77.

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.