Phocas Financial Corp. Lowers Stock Holdings in Chord Energy Corporation (NASDAQ:CHRD)

Phocas Financial Corp. trimmed its stake in Chord Energy Corporation (NASDAQ:CHRD) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,195 shares of the company’s stock after selling 2,056 shares during the period. Phocas Financial Corp. owned about 0.05% of Chord Energy worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CHRD. JPMorgan Chase & Co. boosted its position in Chord Energy by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company’s stock valued at $30,784,000 after buying an additional 8,455 shares during the period. Orion Portfolio Solutions LLC boosted its position in Chord Energy by 12.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,529 shares of the company’s stock valued at $880,000 after buying an additional 817 shares during the period. California Public Employees Retirement System boosted its position in Chord Energy by 2.1% in the 4th quarter. California Public Employees Retirement System now owns 107,404 shares of the company’s stock valued at $12,558,000 after buying an additional 2,172 shares during the period. Headlands Technologies LLC purchased a new stake in Chord Energy in the 4th quarter valued at about $100,000. Finally, Bryce Point Capital LLC purchased a new stake in Chord Energy in the 4th quarter valued at about $479,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Down 4.1%

NASDAQ CHRD opened at $105.86 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.11 billion, a PE ratio of 7.08 and a beta of 0.97. The company has a 50 day moving average price of $102.27 and a 200 day moving average price of $103.33. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $165.59.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate 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 net margin of 16.15% and a return on equity of 10.34%. Chord Energy’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.10 EPS. As a group, sell-side analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 owned 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CHRD shares. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on shares of Chord Energy from $142.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Bank of America reduced their price target on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Mizuho reduced their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average target price of $151.54.

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.