Chord Energy Co. (NASDAQ:CHRD) Shares Sold by CastleKnight Management LP

CastleKnight Management LP trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 37.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,380 shares of the company’s stock after selling 3,200 shares during the quarter. CastleKnight Management LP’s holdings in Chord Energy were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. Barclays PLC boosted its stake in Chord Energy by 3.7% during the third quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after buying an additional 2,318 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Chord Energy by 72.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock valued at $3,631,000 after purchasing an additional 11,527 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Chord Energy by 5.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock worth $657,000 after purchasing an additional 284 shares during the last quarter. Tallon Kerry Patrick bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $204,000. Finally, Merit Financial Group LLC acquired a new stake in Chord Energy during the fourth quarter valued at approximately $553,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Up 0.3 %

CHRD opened at $90.52 on Wednesday. The company has a market capitalization of $5.38 billion, a PE ratio of 4.66, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The business has a 50-day moving average of $99.56 and a 200-day moving average of $113.36. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. 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 (NASDAQ:CHRD) last posted 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. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $5.10 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.74%. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CHRD shares. Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $125.00 to $114.00 in a research report on Tuesday, April 29th. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Finally, Williams Trading set a $155.00 price objective on Chord Energy in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.08.

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.