Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. increased its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,607 shares of the company's stock after acquiring an additional 26,743 shares during the period. Westwood Holdings Group Inc. owned approximately 0.43% of Chord Energy worth $30,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC purchased a new stake in Chord Energy in the 4th quarter valued at approximately $1,191,000. JPMorgan Chase & Co. lifted its stake in Chord Energy by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after buying an additional 8,455 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Chord Energy during the 4th quarter worth $553,000. Kingsview Wealth Management LLC lifted its stake in shares of Chord Energy by 55.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock worth $2,542,000 after purchasing an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. lifted 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. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Down 1.7%

Shares of NASDAQ CHRD opened at $95.03 on Tuesday. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a market cap of $5.49 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.99. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $97.84 and a 200 day moving average price of $111.26.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $5.10 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors 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 annualized dividend and a yield of 5.47%. Chord Energy's dividend payout ratio is currently 34.78%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho reduced their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Wells Fargo & Company cut their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup cut their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus price target of $153.92.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

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.

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