Vanguard Group Inc. Lowers Position in Chord Energy Corporation (NASDAQ:CHRD)

Vanguard Group Inc. decreased its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,335,375 shares of the company's stock after selling 60,089 shares during the period. Vanguard Group Inc. owned 10.65% of Chord Energy worth $714,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in Chord Energy by 19.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock worth $100,011,000 after acquiring an additional 136,751 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Chord Energy by 6.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after acquiring an additional 47,649 shares during the period. Woodline Partners LP raised its stake in Chord Energy by 16.4% during the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company's stock worth $87,569,000 after acquiring an additional 105,448 shares during the period. Bank of New York Mellon Corp raised its position in shares of Chord Energy by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company's stock valued at $83,675,000 after buying an additional 53,927 shares during the last quarter. Finally, Palo Duro Investment Partners LP raised its position in shares of Chord Energy by 13.6% during the fourth quarter. Palo Duro Investment Partners LP now owns 668,750 shares of the company's stock valued at $78,190,000 after buying an additional 80,063 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CHRD shares. Piper Sandler lifted their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Bank of America reduced their price objective 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. Mizuho reduced their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.77.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total transaction of $101,640.00. Following the completion of the sale, the executive vice president directly owned 17,669 shares of the company's stock, valued at approximately $1,795,877.16. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

Chord Energy Trading Down 0.7%

NASDAQ CHRD traded down $0.70 on Friday, hitting $102.11. 911,170 shares of the stock were exchanged, compared to its average volume of 752,553. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The stock has a fifty day moving average price of $104.35 and a two-hundred day moving average price of $102.10. The firm has a market capitalization of $5.85 billion, a P/E ratio of 25.98 and a beta of 0.97. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $155.88.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.69 earnings per share. Research analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, August 21st. Chord Energy's payout ratio is currently 132.32%.

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.