Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,809 shares of the company’s stock after selling 4,774 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Chord Energy worth $5,952,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CHRD. Vanguard Group Inc. grew its stake in Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after purchasing an additional 21,034 shares in the last quarter. FMR LLC grew its position in shares of Chord Energy by 12.9% during the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after buying an additional 364,673 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Chord Energy by 1.0% in the third quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after buying an additional 26,896 shares during the last quarter. Jennison Associates LLC raised its holdings in Chord Energy by 0.4% in the third quarter. Jennison Associates LLC now owns 802,175 shares of the company’s stock valued at $130,009,000 after acquiring an additional 2,837 shares in the last quarter. Finally, Sourcerock Group LLC boosted its stake in Chord Energy by 1.1% during the 3rd quarter. Sourcerock Group LLC now owns 612,943 shares of the company’s stock valued at $99,340,000 after acquiring an additional 6,402 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CHRD shares. Mizuho upped their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Piper Sandler increased their target price on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial decreased their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada lifted their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.50.

Insider Activity at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Chord Energy Stock Performance

Shares of CHRD opened at $180.22 on Thursday. The firm has a fifty day moving average of $175.41 and a 200-day moving average of $166.02. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 7.66 and a beta of 1.07. 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 Co. has a 1 year low of $137.78 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. During the same period in the previous year, the business posted $4.50 EPS. Chord Energy’s revenue was up 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Chord Energy Co. will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 7.21%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio is 21.25%.

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.