Gotham Asset Management LLC Decreases Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Gotham Asset Management LLC lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 42.2% in the fourth quarter, Holdings Channel reports. The fund owned 10,448 shares of the company’s stock after selling 7,631 shares during the quarter. Gotham Asset Management LLC’s holdings in Chord Energy were worth $1,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHRD. Pacer Advisors Inc. raised its position 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 valued at $218,892,000 after purchasing an additional 627,122 shares in the last quarter. Victory Capital Management Inc. raised its position 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 valued at $334,912,000 after purchasing an additional 619,021 shares in the last quarter. FMR LLC raised its position in shares of Chord Energy by 11.5% in 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. Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at approximately $43,745,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Chord Energy in the 4th quarter valued at approximately $29,984,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $96.67 on Friday. Chord Energy Co. has a 1-year low of $79.83 and a 1-year 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. The business’s fifty day moving average price is $98.06 and its two-hundred day moving average price is $111.56. The firm has a market capitalization of $5.58 billion, a PE ratio of 4.98, a P/E/G ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $5.10 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts expect that Chord Energy Co. will post 15.59 EPS for the current 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 given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

Insiders Place Their Bets

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

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.