Chord Energy Corporation (NASDAQ:CHRD) Shares Acquired by TCW Group Inc.

Key Points

• TCW Group Inc. increased its stake in Chord Energy Corporation by 72.2% during the first quarter, now owning 63,096 shares valued at approximately $7.1 million.
• Chord Energy reported a quarterly earnings per share of $4.04, exceeding analysts' estimates of $3.60, with a revenue of $1.22 billion for the quarter.
• The company declared a quarterly dividend of $1.30 per share, representing an annualized basis yield of 4.78%.

TCW Group Inc. raised its stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 72.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,096 shares of the company's stock after buying an additional 26,456 shares during the period. TCW Group Inc. owned about 0.11% of Chord Energy worth $7,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Chord Energy by 19.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock valued at $100,011,000 after purchasing an additional 136,751 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Chord Energy by 6.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock valued at $89,198,000 after purchasing an additional 47,649 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Chord Energy by 16.4% in the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company's stock valued at $87,569,000 after purchasing an additional 105,448 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Chord Energy by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock worth $83,675,000 after acquiring an additional 53,927 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CHRD shares. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler upped their price target on shares of Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Bank of America cut their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.54.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded down $1.67 during midday trading on Thursday, reaching $110.24. The company's stock had a trading volume of 168,539 shares, compared to its average volume of 838,098. The firm has a market capitalization of $6.37 billion, a PE ratio of 7.35 and a beta of 0.96. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $173.53. The stock has a fifty day moving average of $101.55 and a 200 day moving average of $103.75. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

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

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is presently 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.