Worldquant Millennium Advisors LLC Invests $11.53 Million in Chord Energy Co. (NASDAQ:CHRD)

Worldquant Millennium Advisors LLC acquired a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 98,646 shares of the company's stock, valued at approximately $11,534,000. Worldquant Millennium Advisors LLC owned 0.16% of Chord Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gables Capital Management Inc. grew its holdings in Chord Energy by 6.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock worth $181,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after purchasing an additional 106 shares during the period. Exchange Traded Concepts LLC grew its holdings in Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after purchasing an additional 110 shares during the period. MGO One Seven LLC grew its holdings in Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after purchasing an additional 111 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Chord Energy by 4.0% in the fourth quarter. Blue Trust Inc. now owns 3,334 shares of the company's stock worth $390,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This 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 accessible through the SEC website. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Bank of America dropped 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 note on Friday. Royal Bank of Canada dropped their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and a consensus target price of $153.77.

Chord Energy Stock Performance

Chord Energy stock traded down $0.50 during midday trading on Friday, reaching $89.65. 555,012 shares of the company traded hands, compared to its average volume of 982,549. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 4.62, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The business has a 50 day moving average of $96.63 and a two-hundred day moving average of $110.36. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share 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 firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.10 earnings per share. As a group, research 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. Investors of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.80%. Chord Energy's dividend payout ratio (DPR) is 34.78%.

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.