Chord Energy Corporation $CHRD Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in Chord Energy Corporation (NASDAQ:CHRD) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,214,816 shares of the company’s stock after selling 95,394 shares during the quarter. Wellington Management Group LLP owned approximately 2.04% of Chord Energy worth $136,934,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Aptus Capital Advisors LLC lifted its holdings in Chord Energy by 13.1% in the first quarter. Aptus Capital Advisors LLC now owns 63,642 shares of the company’s stock valued at $7,174,000 after acquiring an additional 7,357 shares during the period. Algert Global LLC raised its position in shares of Chord Energy by 0.6% in the first quarter. Algert Global LLC now owns 124,863 shares of the company’s stock worth $14,075,000 after acquiring an additional 720 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in shares of Chord Energy during the 1st quarter valued at about $332,000. Cresset Asset Management LLC grew its position in shares of Chord Energy by 23.4% during the 1st quarter. Cresset Asset Management LLC now owns 2,612 shares of the company’s stock valued at $294,000 after acquiring an additional 495 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Chord Energy by 3.7% during the 1st quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock valued at $130,515,000 after acquiring an additional 41,797 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $102.58 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The business’s 50 day moving average price is $104.51 and its 200-day moving average price is $101.84. The firm has a market capitalization of $5.87 billion, a PE ratio of 26.10 and a beta of 0.97. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $154.75.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.69 EPS. As a group, equities research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. Chord Energy’s dividend payout ratio is presently 132.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Chord Energy from $143.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, August 15th. UBS Group raised their target price on Chord Energy from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Piper Sandler upped their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Bank of America reduced their price objective on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.92.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the completion of the sale, the executive vice president owned 17,669 shares in the company, valued at approximately $1,795,877.16. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

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.