Westwood Holdings Group Inc. Has $19.69 Million Position in Chord Energy Corporation (NASDAQ:CHRD)

Westwood Holdings Group Inc. reduced its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 33.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,700 shares of the company's stock after selling 85,907 shares during the period. Westwood Holdings Group Inc. owned about 0.29% of Chord Energy worth $19,692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 47,649 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Chord Energy during the first quarter valued at approximately $1,940,000. New York State Teachers Retirement System increased its holdings in shares of Chord Energy by 8.4% in the first quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock valued at $3,290,000 after purchasing an additional 2,263 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Chord Energy by 56.9% in the first quarter. Perigon Wealth Management LLC now owns 35,642 shares of the company's stock valued at $4,018,000 after purchasing an additional 12,925 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Chord Energy by 309.8% in the 1st quarter. SG Americas Securities LLC now owns 11,092 shares of the company's stock worth $1,250,000 after purchasing an additional 8,385 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHRD. Bank of America decreased their price objective on 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 lowered 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. Royal Bank Of Canada dropped their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Citigroup raised their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler boosted their price target on shares of Chord Energy from $159.00 to $164.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.54.

Chord Energy Trading Up 1.5%

Shares of CHRD stock traded up $1.53 on Friday, hitting $101.06. The stock had a trading volume of 747,105 shares, compared to its average volume of 660,925. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $156.12. The company has a fifty day moving average price of $103.58 and a two-hundred day moving average price of $102.71. The firm has a market cap of $5.84 billion, a P/E ratio of 25.72 and a beta of 0.97.

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

Chord Energy Dividend Announcement

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

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.