UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Chord Energy Co. (NASDAQ:CHRD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 29.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,827 shares of the company's stock after selling 43,333 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Chord Energy worth $12,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CHRD. FMR LLC increased its stake in 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. lifted its position in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after buying an additional 619,021 shares in the last quarter. Boston Partners lifted its position in Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company's stock valued at $255,684,000 after buying an additional 115,215 shares in the last quarter. American Century Companies Inc. lifted its position in Chord Energy by 15.0% during the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock valued at $130,491,000 after buying an additional 145,627 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Chord Energy by 19.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock valued at $100,011,000 after buying an additional 136,751 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded up $1.74 during trading on Monday, reaching $91.74. The stock had a trading volume of 482,070 shares, compared to its average volume of 936,245. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The business's 50-day moving average price is $94.52 and its 200 day moving average price is $108.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $5.30 billion, a PE ratio of 4.70, a P/E/G ratio of 5.83 and a beta of 0.99.

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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.10 EPS. As a group, equities analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.67%. Chord Energy's dividend payout ratio is currently 34.78%.

Insider Activity at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America reduced their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Citigroup decreased their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler decreased their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $153.77.

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.