Chord Energy Co. (NASDAQ:CHRD) is Valueworks LLC’s 2nd Largest Position

Valueworks LLC lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,694 shares of the company’s stock after selling 22,391 shares during the quarter. Chord Energy accounts for 6.8% of Valueworks LLC’s investment portfolio, making the stock its 2nd biggest position. Valueworks LLC owned 0.29% of Chord Energy worth $20,542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Worldquant Millennium Advisors LLC purchased a new stake in shares of Chord Energy during the 4th quarter valued at $11,534,000. Woodline Partners LP raised its position in Chord Energy by 16.4% in the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company’s stock worth $87,569,000 after purchasing an additional 105,448 shares during the period. Vident Advisory LLC raised its position in Chord Energy by 39.8% in the 4th quarter. Vident Advisory LLC now owns 18,805 shares of the company’s stock worth $2,199,000 after purchasing an additional 5,353 shares during the period. Sourcerock Group LLC raised its position in Chord Energy by 214.9% in the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company’s stock worth $36,815,000 after purchasing an additional 214,870 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Chord Energy by 11.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 260,607 shares of the company’s stock worth $30,470,000 after purchasing an additional 26,743 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now directly owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of recent analyst reports. Bank of America raised shares of Chord Energy from a “neutral” rating to a “buy” rating and cut their price target for the stock from $125.00 to $114.00 in a report on Tuesday, April 29th. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. Royal Bank of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, Mizuho cut their target price on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $153.92.

Chord Energy Stock Down 1.7%

Shares of Chord Energy stock opened at $95.03 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market capitalization of $5.49 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The company has a 50-day simple moving average of $97.84 and a two-hundred day simple moving average of $111.26.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.10 earnings per share. On average, analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.47%. Chord Energy’s payout ratio is 34.78%.

Chord Energy Company 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.