Chord Energy Co. (NASDAQ:CHRD) is Rakuten Securities Inc.'s 10th Largest Position

Rakuten Securities Inc. grew its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 10,914.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,594 shares of the company's stock after purchasing an additional 33,289 shares during the period. Chord Energy makes up approximately 1.9% of Rakuten Securities Inc.'s investment portfolio, making the stock its 10th biggest position. Rakuten Securities Inc. owned 0.06% of Chord Energy worth $3,787,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CHRD. Gables Capital Management Inc. lifted its holdings in shares of Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after acquiring an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after acquiring an additional 106 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after acquiring an additional 111 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Chord Energy by 6.0% in the 4th quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after acquiring an additional 163 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Chord Energy by 6.2% in the 4th quarter. Signaturefd LLC now owns 3,046 shares of the company's stock valued at $356,000 after acquiring an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CHRD. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Piper Sandler decreased their price objective on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Mizuho decreased their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $152.54.

Chord Energy Trading Down 0.3%

CHRD opened at $105.71 on Tuesday. The stock's fifty day moving average is $93.85 and its two-hundred day moving average is $106.41. The company has a market capitalization of $6.11 billion, a P/E ratio of 5.44, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $181.17. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $5.10 EPS. Analysts forecast 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 was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.92%. Chord Energy's dividend payout ratio is presently 34.78%.

About Chord Energy

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.

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