Nuveen Asset Management LLC Sells 56,211 Shares of Chord Energy Co. (NASDAQ:CHRD)

Nuveen Asset Management LLC trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 367,961 shares of the company's stock after selling 56,211 shares during the quarter. Nuveen Asset Management LLC owned about 0.60% of Chord Energy worth $43,022,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Chord Energy during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in shares of Chord Energy during the fourth quarter worth $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy during the 4th quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $51,000. 97.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CHRD. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Citigroup decreased their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued 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 an average target price of $153.92.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the business'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 transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of CHRD opened at $95.03 on Tuesday. The business's 50-day moving average is $97.84 and its two-hundred day moving average is $111.26. The company has a market capitalization of $5.49 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company earned $5.10 EPS. The business's revenue was up 12.0% on a year-over-year basis. Research analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.47%. Chord Energy's dividend payout ratio is currently 34.78%.

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.

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