Chord Energy Co. (NASDAQ:CHRD) Shares Bought by Sourcerock Group LLC

Sourcerock Group LLC lifted its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 214.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,870 shares of the company's stock after purchasing an additional 214,870 shares during the quarter. Chord Energy makes up 2.6% of Sourcerock Group LLC's investment portfolio, making the stock its 11th biggest holding. Sourcerock Group LLC owned about 0.52% of Chord Energy worth $36,815,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CHRD. Pacer Advisors Inc. boosted its holdings in shares of Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after acquiring an additional 627,122 shares during the period. Victory Capital Management Inc. increased its position in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after acquiring an additional 619,021 shares during the period. FMR LLC increased its position in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after acquiring an additional 394,372 shares during the period. Encompass Capital Advisors LLC acquired a new position in Chord Energy in the 4th quarter valued at about $43,745,000. Finally, Squarepoint Ops LLC increased its position in Chord Energy by 365.5% in the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after acquiring an additional 264,828 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Price Performance

Shares of CHRD stock traded down $0.50 during midday trading on Friday, reaching $89.65. 555,012 shares of the company traded hands, compared to its average volume of 982,069. The firm's 50 day simple moving average is $96.63 and its two-hundred day simple moving average is $110.51. Chord Energy Co. has a 1-year low of $79.83 and a 1-year 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. The firm has a market cap of $5.18 billion, a PE ratio of 4.62, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $5.10 EPS. The company's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

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

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup dropped their price target 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. Piper Sandler reduced their target price 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. Royal Bank of Canada reduced their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Bank of America reduced 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 note on Friday. Finally, Williams Trading set a $155.00 target price on shares of Chord Energy in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $153.77.

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.