Balyasny Asset Management L.P. Trims Position in Chord Energy Co. (NASDAQ:CHRD)

Balyasny Asset Management L.P. reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 365,047 shares of the company's stock after selling 14,849 shares during the quarter. Balyasny Asset Management L.P. owned about 0.60% of Chord Energy worth $42,681,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CHRD. Natixis Advisors LLC purchased a new stake in Chord Energy during the 4th quarter valued at $1,191,000. JPMorgan Chase & Co. increased its position in Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after acquiring an additional 8,455 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Chord Energy in the 4th quarter worth about $553,000. Kingsview Wealth Management LLC lifted its holdings in shares of Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock worth $2,542,000 after acquiring an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its stake in shares of Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company's stock worth $11,596,000 after purchasing an additional 3,151 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Down 0.6 %

NASDAQ CHRD traded down $0.59 on Friday, hitting $93.04. The stock had a trading volume of 977,188 shares, compared to its average volume of 981,154. The business's fifty day moving average price is $98.60 and its 200 day moving average price is $112.69. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 4.79, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its 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 analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $5.10 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.59%. Chord Energy's dividend payout ratio is currently 32.62%.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of analyst reports. Truist Financial upped their target price on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Bank of America upgraded shares of Chord Energy from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $125.00 to $114.00 in a research note on Tuesday, April 29th. Royal Bank of Canada reduced their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and an average 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.