Bailard Inc. Trims Position in Chord Energy Co. (NASDAQ:CHRD)

Bailard Inc. trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 17.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,900 shares of the company’s stock after selling 600 shares during the period. Bailard Inc.’s holdings in Chord Energy were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Yousif Capital Management LLC increased its holdings in Chord Energy by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 19,620 shares of the company’s stock worth $3,261,000 after acquiring an additional 334 shares during the period. California Public Employees Retirement System grew its position in shares of Chord Energy by 4.1% during the 4th quarter. California Public Employees Retirement System now owns 78,852 shares of the company’s stock valued at $13,108,000 after purchasing an additional 3,128 shares in the last quarter. Monument Capital Management bought a new position in shares of Chord Energy in the fourth quarter worth $2,035,000. Lindbrook Capital LLC raised its position in shares of Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Chord Energy by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,335 shares of the company’s stock valued at $5,874,000 after buying an additional 17,176 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Up 0.5 %

Shares of CHRD opened at $185.58 on Friday. Chord Energy Co. has a fifty-two week low of $133.34 and a fifty-two week high of $190.23. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 7.89 and a beta of 1.06. The firm has a 50 day moving average price of $172.98 and a 200-day moving average price of $165.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million for the quarter, compared to analysts’ expectations of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, equities research analysts forecast that Chord Energy Co. will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date was Monday, March 4th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 21.25%.

Insider Activity at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares in the company, valued at approximately $20,225,867.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHRD. Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Mizuho lifted their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Piper Sandler increased their price target on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Truist Financial lowered their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.50.

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.