Boston Partners Sells 48,066 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• Boston Partners decreased its ownership in Chord Energy Corporation by 2.2%, holding 2,138,417 shares valued at approximately $240.9 million.
• Analyst ratings for Chord Energy show a mixed outlook, with two analysts recommending a sell, while ten maintain a buy rating, leading to a consensus rating of "Moderate Buy" and a target price of $148.38.
• Chord Energy announced a quarterly dividend of $1.30 per share, representing a dividend yield of 5.1%, with a payout ratio of 132.32%.

Boston Partners reduced its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,138,417 shares of the company's stock after selling 48,066 shares during the period. Boston Partners owned approximately 3.59% of Chord Energy worth $240,904,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CHRD. National Bank of Canada FI grew its stake in shares of Chord Energy by 2.1% in the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock worth $592,000 after purchasing an additional 106 shares during the last quarter. MGO One Seven LLC grew its stake in shares of Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after purchasing an additional 111 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Chord Energy by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock worth $329,000 after purchasing an additional 118 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Chord Energy by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock worth $335,000 after purchasing an additional 163 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Chord Energy by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock worth $2,159,000 after purchasing an additional 190 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $0.70 on Friday, reaching $102.11. 911,170 shares of the company traded hands, compared to its average volume of 752,553. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $155.88. The company has a 50 day moving average of $104.35 and a 200 day moving average of $102.00. The firm has a market capitalization of $5.85 billion, a PE ratio of 25.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.69 earnings per share. Equities analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.1%. Chord Energy's dividend payout ratio (DPR) is 132.32%.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the completion of the transaction, the executive vice president directly owned 17,669 shares of the company's stock, valued at approximately $1,795,877.16. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHRD. Bank of America reduced their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company increased their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group reissued a "buy" rating and set a $120.00 price objective (up previously from $113.00) on shares of Chord Energy in a research report on Tuesday, August 12th. Piper Sandler restated an "overweight" rating and issued a $166.00 target price (up previously from $164.00) on shares of Chord Energy in a report on Thursday. Finally, Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.77.

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.