Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 367,961 shares of the company’s stock after selling 56,211 shares during the period. Nuveen Asset Management LLC’s holdings in Chord Energy were worth $43,022,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in shares of Chord Energy during the fourth quarter worth about $1,191,000. JPMorgan Chase & Co. raised its holdings in Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company’s stock worth $30,784,000 after purchasing an additional 8,455 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Chord Energy during the 4th quarter worth $553,000. Kingsview Wealth Management LLC increased its position in Chord Energy by 55.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after buying an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after acquiring an additional 3,151 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Finally, Piper Sandler decreased 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. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.92.

Chord Energy Trading Down 1.7%

NASDAQ CHRD opened at $95.03 on Tuesday. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.49 billion, a P/E ratio of 4.89, a PEG ratio of 5.83 and a beta of 0.99. The company’s fifty day simple moving average is $97.84 and its 200-day simple moving average is $111.26.

Chord Energy (NASDAQ:CHRD) last issued 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. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.10 EPS. Equities research analysts predict that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid 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 yield of 5.47%. Chord Energy’s dividend payout ratio (DPR) is 34.78%.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the firm’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 directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.