Cresset Asset Management LLC Sells 2,996 Shares of Chord Energy Co. (NASDAQ:CHRD)

Cresset Asset Management LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,117 shares of the company's stock after selling 2,996 shares during the quarter. Cresset Asset Management LLC's holdings in Chord Energy were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC raised 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 worth $445,978,000 after purchasing an additional 394,372 shares during the period. Victory Capital Management Inc. lifted its stake in shares of 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 last quarter. Boston Partners lifted its stake in shares of Chord Energy by 5.6% in the 4th quarter. Boston Partners now owns 2,186,483 shares of the company's stock valued at $255,684,000 after acquiring an additional 115,215 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Chord Energy by 50.4% in the 4th 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 last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Chord Energy by 15.0% in the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock valued at $130,491,000 after acquiring an additional 145,627 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owns 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Citigroup cut their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Piper Sandler cut their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. One investment analyst has 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 MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and an average target price of $153.92.

Chord Energy Stock Down 0.4%

NASDAQ CHRD traded down $0.34 during trading hours on Thursday, reaching $90.20. 312,237 shares of the company's stock traded hands, compared to its average volume of 980,229. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The firm has a market cap of $5.21 billion, a PE ratio of 4.65, a PEG ratio of 5.83 and a beta of 0.99. The firm has a 50-day simple moving average of $97.36 and a 200 day simple moving average of $111.00. 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 issued its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.10 earnings per share. Sell-side analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders 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 5.77%. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

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.