Gotham Asset Management LLC Has $1.22 Million Stake in Chord Energy Co. (NASDAQ:CHRD)

Gotham Asset Management LLC trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,448 shares of the company's stock after selling 7,631 shares during the period. Gotham Asset Management LLC's holdings in Chord Energy were worth $1,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC bought a new stake in shares of Chord Energy during the fourth quarter worth approximately $1,191,000. JPMorgan Chase & Co. raised its stake in shares of Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after buying an additional 8,455 shares during the last quarter. Merit Financial Group LLC bought a new stake in Chord Energy in the fourth quarter valued at approximately $553,000. Kingsview Wealth Management LLC increased its stake in Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock valued at $2,542,000 after purchasing an additional 7,743 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in Chord Energy by 3.5% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company's stock valued at $11,596,000 after purchasing an additional 3,151 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction on 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 transaction, 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 SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several recent analyst reports. Piper Sandler lowered 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. Wells Fargo & Company lowered their target price on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Bank of America lowered 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, Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average price target of $153.77.

Chord Energy Stock Down 0.6%

Shares of CHRD stock traded down $0.50 during trading hours on Friday, hitting $89.65. 555,012 shares of the company were exchanged, compared to its average volume of 982,069. The business has a 50 day moving average of $96.63 and a two-hundred day moving average of $110.51. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The company has a market capitalization of $5.18 billion, a PE ratio of 4.62, a PEG ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $5.10 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

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

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.