Chord Energy Corporation $CHRD Stock Position Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 16.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,888 shares of the company’s stock after selling 5,010 shares during the period. Sterling Capital Management LLC’s holdings in Chord Energy were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the first quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Chord Energy in the third quarter valued at approximately $29,000. Root Financial Partners LLC grew its position in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research upgraded Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Wells Fargo & Company lowered their price objective on Chord Energy from $175.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Scotiabank began coverage on Chord Energy in a report on Wednesday, October 14th. They issued a “sector outperform” rating and a $192.00 target price for the company. Roth Capital reaffirmed a “buy” rating and issued a $165.00 target price on shares of Chord Energy in a research note on Monday, October 19th. Finally, Morgan Stanley raised their target price on Chord Energy from $169.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $174.54.

Insider Buying and Selling

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction on Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director owned 10,705 shares in the company, valued at $1,425,263.70. The trade was a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the transaction, the director directly owned 7,280 shares in the company, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,969 shares of company stock worth $3,389,599. Company insiders own 0.79% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $158.13 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company has a market capitalization of $8.65 billion, a PE ratio of 10.60 and a beta of 0.59. The firm’s 50-day moving average is $145.07 and its two-hundred day moving average is $137.13. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $159.05.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s quarterly revenue was up 128.6% on a year-over-year basis. During the same period last year, the company earned $1.79 EPS. Analysts predict that Chord Energy Corporation will post 23.11 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, August 20th. Chord Energy’s dividend payout ratio is presently 34.85%.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.