Algert Global LLC Purchases New Shares in Chord Energy Co. (NASDAQ:CHRD)

Algert Global LLC bought a new stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 124,143 shares of the company's stock, valued at approximately $14,515,000. Algert Global LLC owned 0.20% of Chord Energy at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CHRD. Pacer Advisors Inc. boosted its stake in shares of Chord Energy by 50.4% during the fourth 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 during the period. Victory Capital Management Inc. grew its stake in 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 position in shares of Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,984,000. Finally, Marshall Wace LLP grew its stake in Chord Energy by 164.6% in the fourth quarter. Marshall Wace LLP now owns 334,641 shares of the company's stock worth $39,126,000 after purchasing an additional 208,170 shares in the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Stock Down 0.5 %

NASDAQ CHRD traded down $0.47 during trading hours on Wednesday, hitting $90.14. The company had a trading volume of 1,254,456 shares, compared to its average volume of 978,305. The firm's 50 day moving average is $99.07 and its 200 day moving average is $113.20. 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 company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 4.64, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the firm earned $5.10 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Co. will post 15.59 earnings per share 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. Shareholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's payout ratio is 32.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CHRD shares. Wells Fargo & Company dropped their price target on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Citigroup cut their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus price target of $156.08.

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.