10,621 Chord Energy Corporation $CHRD Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments reduced its Chord Energy stake by 10,621 shares, or 1.4%, ending the third quarter with 764,112 shares valued at about $104.6 million. Institutional investors collectively own 97.76% of the stock.
• Analysts give Chord Energy a “Moderate Buy” consensus, with an average price target of $174.62; two rate it Strong Buy, 12 Buy, and three Hold.
• Chord Energy beat quarterly earnings and revenue estimates, reporting EPS of $6.08 and revenue of $1.71 billion. It also declared a $1.30-per-share quarterly dividend, equivalent to a 3.8% yield at the article’s cited price.

Allspring Global Investments Holdings LLC cut its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 764,112 shares of the company's stock after selling 10,621 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.40% of Chord Energy worth $104,569,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Chord Energy by 34.8% during the 3rd quarter. Brighton Jones LLC now owns 2,542 shares of the company's stock worth $341,000 after acquiring an additional 656 shares in the last quarter. Ethic Inc. increased its position in Chord Energy by 85.6% in the third quarter. Ethic Inc. now owns 5,061 shares of the company's stock worth $679,000 after purchasing an additional 2,334 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Chord Energy by 7.7% in the third quarter. Pictet Asset Management Holding SA now owns 9,257 shares of the company's stock worth $1,241,000 after purchasing an additional 658 shares during the last quarter. Parallel Advisors LLC increased its position in Chord Energy by 16.3% in the third quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $396,000 after purchasing an additional 414 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Chord Energy during the third quarter valued at $515,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHRD. Zacks Research upgraded shares of Chord Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 20th. Stifel Nicolaus initiated coverage on shares of Chord Energy in a report on Thursday, September 10th. They issued a "buy" rating and a $182.00 price target for the company. Seaport Research Partners assumed coverage on shares of Chord Energy in a report on Thursday, September 3rd. They issued a "neutral" rating for the company. Roth Capital reiterated a "buy" rating and issued a $165.00 price target on shares of Chord Energy in a research report on Monday, October 19th. Finally, Citigroup boosted their price objective on Chord Energy from $130.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.62.

Insider Buying and Selling

In related news, Director Samantha Mckinney sold 9,750 shares of the stock in a transaction that occurred 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 transaction, the director owned 7,280 shares in the company, valued at approximately $1,091,563.20. This represents a 57.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

CHRD stock opened at $137.49 on Tuesday. 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 business has a 50-day moving average price of $145.24 and a 200 day moving average price of $132.08. The company has a market capitalization of $7.52 billion, a P/E ratio of 7.21 and a beta of 0.48. Chord Energy Corporation has a 1-year low of $86.28 and a 1-year high of $159.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 EPS for the quarter, topping the consensus estimate of $5.68 by $0.40. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. Chord Energy had a return on equity of 12.58% and a net margin of 13.40%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. As a group, equities research analysts forecast that Chord Energy Corporation will post 23.11 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Thursday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.8%. Chord Energy's payout ratio is 32.60%.

About Chord Energy

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