Ameriprise Financial Inc. Has $12.69 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Ameriprise Financial Inc. lifted its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,561 shares of the company's stock after purchasing an additional 8,621 shares during the period. Ameriprise Financial Inc. owned about 0.18% of Chord Energy worth $12,693,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in shares of Chord Energy during the fourth quarter worth approximately $1,191,000. JPMorgan Chase & Co. increased its stake in Chord Energy by 3.3% in the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after purchasing an additional 8,455 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Chord Energy in the 4th quarter worth about $553,000. Kingsview Wealth Management LLC lifted its stake in shares of Chord Energy by 55.3% during the fourth 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 in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company's stock worth $11,596,000 after buying an additional 3,151 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD stock traded down $0.39 during mid-day trading on Thursday, reaching $90.15. The company's stock had a trading volume of 578,371 shares, compared to its average volume of 981,248. The firm's 50-day moving average is $97.36 and its two-hundred day moving average is $111.00. The company has a market cap of $5.21 billion, a P/E ratio of 4.64, a PEG ratio of 5.83 and a beta of 0.99. 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 quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $5.10 EPS. Chord Energy's quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction 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 sale, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHRD. Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada reduced their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Finally, Bank of America upgraded shares of Chord Energy from a "neutral" rating to a "buy" rating and cut their price target for the company from $125.00 to $114.00 in a report on Tuesday, April 29th. One equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $153.92.

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.