Woodline Partners LP Acquires 105,448 Shares of Chord Energy Co. (NASDAQ:CHRD)

Woodline Partners LP boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 748,966 shares of the company's stock after acquiring an additional 105,448 shares during the quarter. Chord Energy accounts for about 0.6% of Woodline Partners LP's investment portfolio, making the stock its 25th largest holding. Woodline Partners LP owned approximately 1.23% of Chord Energy worth $87,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CHRD. Barclays PLC boosted its holdings in Chord Energy by 3.7% during the 3rd quarter. Barclays PLC now owns 64,711 shares of the company's stock valued at $8,427,000 after acquiring an additional 2,318 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Chord Energy by 5.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company's stock valued at $657,000 after acquiring an additional 284 shares during the period. Tallon Kerry Patrick purchased a new stake in Chord Energy during the 4th quarter valued at about $204,000. Merit Financial Group LLC purchased a new stake in Chord Energy during the 4th quarter valued at about $553,000. Finally, Brooklyn Investment Group purchased a new stake in Chord Energy during the 4th quarter valued at about $29,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Down 0.4%

Shares of NASDAQ:CHRD traded down $0.39 during trading on Thursday, hitting $90.15. The stock had a trading volume of 579,618 shares, compared to its average volume of 982,804. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02. The company has a market capitalization of $5.21 billion, a PE ratio of 4.64, a PEG ratio of 5.83 and a beta of 0.99. The firm's fifty day moving average is $97.01 and its 200 day moving average is $110.76. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $5.10 EPS. The business's revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid 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 5.77%. Chord Energy's payout ratio is currently 34.78%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Citigroup lowered their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Mizuho lowered their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.92.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

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.