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

KBC Group NV reduced its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 78.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,163 shares of the company's stock after selling 43,810 shares during the period. KBC Group NV's holdings in Chord Energy were worth $1,371,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CHRD. FMR LLC increased 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 last quarter. Encompass Capital Advisors LLC acquired a new position in Chord Energy in the 4th quarter worth about $43,745,000. Squarepoint Ops LLC increased its position in Chord Energy by 365.5% in the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock worth $39,435,000 after purchasing an additional 264,828 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chord Energy in the 4th quarter worth about $29,984,000. Finally, Sourcerock Group LLC increased its position in Chord Energy by 214.9% in the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock worth $36,815,000 after purchasing an additional 214,870 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

CHRD traded up $0.40 during midday trading on Friday, reaching $104.36. The company's stock had a trading volume of 512,121 shares, compared to its average volume of 856,722. The stock has a market cap of $6.03 billion, a P/E ratio of 6.98 and a beta of 0.96. The company has a fifty day simple moving average of $96.51 and a 200 day simple moving average of $104.77. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $181.17.

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

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is currently 34.78%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on CHRD shares. Bank of America dropped their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Mizuho cut their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup cut their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Royal Bank Of Canada cut their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.69.

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.