Allspring Global Investments Holdings LLC Acquires 53,992 Shares of Chord Energy Co. (NASDAQ:CHRD)

Allspring Global Investments Holdings LLC grew its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 491,737 shares of the company's stock after buying an additional 53,992 shares during the period. Allspring Global Investments Holdings LLC owned 1.19% of Chord Energy worth $81,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CHRD. Fortem Financial Group LLC boosted its holdings in shares of Chord Energy by 17.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,867 shares of the company's stock valued at $975,000 after acquiring an additional 860 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Chord Energy during the 4th quarter worth $24,320,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Chord Energy by 239.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,043 shares of the company's stock valued at $10,646,000 after acquiring an additional 45,198 shares during the period. U S Global Investors Inc. acquired a new stake in Chord Energy in the fourth quarter valued at $332,000. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Chord Energy in the fourth quarter valued at $382,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company's stock, valued at $21,154,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHRD. Bank of America downgraded shares of Chord Energy from a "buy" rating to an "underperform" rating and dropped their target price for the company from $177.00 to $165.00 in a report on Friday, January 5th. Truist Financial reduced their target price on Chord Energy from $229.00 to $224.00 and set a "buy" rating on the stock in a research note on Friday, April 5th. Stifel Nicolaus raised their price target on Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. Piper Sandler increased their price objective on Chord Energy from $218.00 to $219.00 and gave the company an "overweight" rating in a research note on Thursday, March 7th. Finally, Mizuho boosted their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.40.

Chord Energy Trading Up 1.4 %

Shares of Chord Energy stock traded up $2.56 during trading hours on Wednesday, reaching $186.88. The stock had a trading volume of 794,966 shares, compared to its average volume of 674,431. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 7.94 and a beta of 1.06. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $187.71. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $166.38 and a two-hundred day simple moving average of $163.48.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, equities research analysts anticipate that Chord Energy Co. will post 21.97 earnings per share for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a dividend yield of 6.96%. Chord Energy's payout ratio is presently 21.25%.

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.