Deutsche Bank AG Sells 83,215 Shares of Chord Energy Co. (NASDAQ:CHRD)

Deutsche Bank AG trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD) by 44.0% in the 4th quarter, Holdings Channel reports. The fund owned 106,104 shares of the company’s stock after selling 83,215 shares during the quarter. Deutsche Bank AG’s holdings in Chord Energy were worth $12,406,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CHRD. Pacer Advisors Inc. increased its stake in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after acquiring an additional 619,021 shares in the last quarter. FMR LLC increased its stake in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Chord Energy during the 4th quarter valued at about $29,984,000. Finally, Marshall Wace LLP increased its stake in Chord Energy by 164.6% during the 4th quarter. Marshall Wace LLP now owns 334,641 shares of the company’s stock valued at $39,126,000 after purchasing an additional 208,170 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

CHRD opened at $95.88 on Friday. 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 company has a market cap of $5.70 billion, a price-to-earnings ratio of 4.94, a PEG ratio of 5.83 and a beta of 0.99. The company’s 50 day moving average is $98.20 and its 200 day moving average is $111.86. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.10 earnings per share. On average, equities research analysts predict that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Wednesday, May 21st. Chord Energy’s payout ratio is 34.78%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHRD. Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $125.00 to $114.00 in a research note on Tuesday, April 29th. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup reduced their price objective on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.92.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares of the company’s stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

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.