Anchor Capital Advisors LLC Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Anchor Capital Advisors LLC lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 55.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,710 shares of the company's stock after acquiring an additional 5,262 shares during the period. Anchor Capital Advisors LLC's holdings in Chord Energy were worth $2,445,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CHRD. Contravisory Investment Management Inc. increased its holdings in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company's stock valued at $43,000 after purchasing an additional 85 shares during the period. Lindbrook Capital LLC increased its position in shares of Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company's stock valued at $51,000 after purchasing an additional 123 shares during the period. Viking Fund Management LLC raised its stake in shares of Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company's stock worth $58,000 after buying an additional 100 shares in the last quarter. Fifth Third Bancorp boosted its stake in Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company's stock valued at $85,000 after buying an additional 70 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Chord Energy in the fourth quarter worth about $183,000. 97.76% of the stock is currently owned by institutional investors.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now owns 131,209 shares of the company's stock, valued at approximately $20,225,867.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Royal Bank of Canada increased their price target on shares of Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Monday. Bank of America cut Chord Energy from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Truist Financial dropped their price objective on Chord Energy from $229.00 to $224.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Finally, Mizuho increased their price target on shares of Chord Energy from $189.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $193.50.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $7.36 during mid-day trading on Tuesday, hitting $176.98. The company had a trading volume of 972,765 shares, compared to its average volume of 659,851. The business's 50-day simple moving average is $173.39 and its 200-day simple moving average is $165.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The firm has a market cap of $7.35 billion, a P/E ratio of 7.64 and a beta of 1.06. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, analysts predict that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.35%. Chord Energy's dividend payout ratio (DPR) is presently 21.25%.

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.