Rafferty Asset Management LLC Increases Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Rafferty Asset Management LLC lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 23.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,511 shares of the company's stock after purchasing an additional 10,395 shares during the period. Rafferty Asset Management LLC owned about 0.09% of Chord Energy worth $6,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its position in shares of Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Victory Capital Management Inc. grew its position in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after purchasing an additional 619,021 shares during the last quarter. Boston Partners increased its stake in Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company's stock valued at $255,684,000 after purchasing an additional 115,215 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after buying an additional 627,122 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Chord Energy by 15.0% during the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock worth $130,491,000 after buying an additional 145,627 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $0.39 on Thursday, hitting $90.15. The company's stock had a trading volume of 472,678 shares, compared to its average volume of 981,243. The stock has a 50 day moving average of $97.36 and a 200-day moving average of $111.00. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 4.64, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.77%. Chord Energy's dividend payout ratio (DPR) is 34.78%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of recent research reports. Mizuho decreased their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their target price 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. 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 report on Tuesday, April 22nd. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $153.92.

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.