Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its position in Chord Energy Co. (NASDAQ:CHRD) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,712 shares of the company’s stock after selling 952 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Chord Energy were worth $874,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. XTX Topco Ltd raised its holdings in shares of Chord Energy by 81.1% in the 3rd quarter. XTX Topco Ltd now owns 3,237 shares of the company’s stock valued at $422,000 after buying an additional 1,450 shares during the period. iSAM Funds UK Ltd grew its position in Chord Energy by 200.1% in the 3rd quarter. iSAM Funds UK Ltd now owns 5,891 shares of the company’s stock valued at $767,000 after acquiring an additional 3,928 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Chord Energy during the third quarter worth about $424,000. Whitebox Advisors LLC lifted its position in shares of Chord Energy by 14.9% during the third quarter. Whitebox Advisors LLC now owns 185,264 shares of the company’s stock worth $24,127,000 after purchasing an additional 23,980 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after purchasing an additional 22,753 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD opened at $119.28 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $115.96 and a 1-year high of $190.23. The stock has a market cap of $7.29 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The firm has a fifty day moving average price of $127.88 and a 200 day moving average price of $146.48.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.04 earnings per share. As a group, sell-side analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.19%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research reports. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler lifted their target price on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Finally, Truist Financial reduced their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.82.

About Chord Energy

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.