Css LLC Il Raises Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Css LLC Il boosted its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 30.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,157 shares of the company's stock after buying an additional 4,994 shares during the quarter. Css LLC Il's holdings in Chord Energy were worth $2,474,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the 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 sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $94.63 on Wednesday. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.47 billion, a P/E ratio of 4.87, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company's fifty day moving average is $97.67 and its two-hundred day moving average is $111.15.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results 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 period in the previous year, the firm posted $5.10 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is currently 34.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CHRD shares. Citigroup cut their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Royal Bank of Canada dropped their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Mizuho decreased their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price objective 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. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and a consensus target price 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.

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