KBC Group NV Sells 43,810 Shares of Chord Energy Corporation (NASDAQ:CHRD)

KBC Group NV lessened its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 78.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,163 shares of the company's stock after selling 43,810 shares during the quarter. KBC Group NV's holdings in Chord Energy were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CHRD. Natixis Advisors LLC purchased a new stake in Chord Energy in the fourth quarter worth $1,191,000. JPMorgan Chase & Co. lifted 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 worth $30,784,000 after acquiring an additional 8,455 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Chord Energy by 6.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after acquiring an additional 47,649 shares during the period. Perigon Wealth Management LLC lifted its stake in Chord Energy by 56.9% in the first quarter. Perigon Wealth Management LLC now owns 35,642 shares of the company's stock worth $4,018,000 after acquiring an additional 12,925 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Chord Energy by 309.8% in the first quarter. SG Americas Securities LLC now owns 11,092 shares of the company's stock worth $1,250,000 after acquiring an additional 8,385 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction dated Thursday, May 8th. The stock was 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 directly owned 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Mizuho dropped their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Royal Bank Of Canada lowered their price objective 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. Finally, Citigroup lowered their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $150.69.

Chord Energy Stock Down 1.2%

Shares of NASDAQ:CHRD traded down $1.26 on Monday, hitting $103.13. 901,443 shares of the company traded hands, compared to its average volume of 856,901. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $181.17. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $96.68 and a 200-day simple moving average of $104.68. The company has a market cap of $5.96 billion, a PE ratio of 6.90 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $5.10 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.04%. Chord Energy's payout ratio 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.