Chord Energy Co. (NASDAQ:CHRD) Position Lowered by Valueworks LLC

Valueworks LLC lowered its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 11.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 175,694 shares of the company's stock after selling 22,391 shares during the period. Chord Energy accounts for approximately 6.8% of Valueworks LLC's holdings, making the stock its 2nd biggest holding. Valueworks LLC owned 0.29% of Chord Energy worth $20,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Altshuler Shaham Ltd bought a new position in Chord Energy in the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Chord Energy during the fourth quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in shares of Chord Energy in the 4th quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after acquiring an additional 224 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Chord Energy in the 4th quarter valued at approximately $51,000. Institutional investors own 97.76% of the company's stock.

Chord Energy Trading Down 0.6%

NASDAQ CHRD traded down $0.50 during trading hours on Friday, reaching $89.65. The company's stock had a trading volume of 555,012 shares, compared to its average volume of 982,549. The firm has a fifty day simple moving average of $96.63 and a 200-day simple moving average of $110.36. The stock has a market cap of $5.18 billion, a P/E ratio of 4.62, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. 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 (NASDAQ:CHRD - Get Free Report) last announced 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. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $5.10 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research analyst reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a research note on Wednesday, March 5th. Bank of America dropped their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday. Piper Sandler lowered 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 report on Tuesday, April 22nd. Citigroup lowered their price objective on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Mizuho reduced their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. One analyst has 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $153.77.

Chord Energy Company 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.