GF Fund Management CO. LTD. Invests $2.20 Million in Chord Energy Co. (NASDAQ:CHRD)

GF Fund Management CO. LTD. bought a new stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,791 shares of the company's stock, valued at approximately $2,197,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHRD. Barclays PLC raised its holdings in Chord Energy by 3.7% during the 3rd quarter. Barclays PLC now owns 64,711 shares of the company's stock valued at $8,427,000 after acquiring an additional 2,318 shares during the period. Tallon Kerry Patrick bought a new stake in Chord Energy during the 4th quarter valued at $204,000. Nisa Investment Advisors LLC raised its holdings in Chord Energy by 9.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,049 shares of the company's stock valued at $473,000 after acquiring an additional 344 shares during the period. Exchange Traded Concepts LLC raised its holdings in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock valued at $718,000 after acquiring an additional 110 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in 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 valued at $11,596,000 after acquiring an additional 3,151 shares during the period. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

NASDAQ:CHRD traded up $0.97 during midday trading on Thursday, hitting $91.00. The company had a trading volume of 549,925 shares, compared to its average volume of 976,447. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The stock's fifty day moving average price is $95.41 and its 200-day moving average price is $109.64. The company has a market capitalization of $5.26 billion, a PE ratio of 4.69, a P/E/G ratio of 5.83 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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. 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 analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $5.10 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.71%. Chord Energy's payout ratio is 34.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHRD shares. Royal Bank of Canada decreased their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Citigroup decreased 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. Mizuho decreased 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. Wells Fargo & Company decreased 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. Finally, Piper Sandler decreased 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.77.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were 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 represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Chord Energy Company 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.