International Assets Investment Management LLC Invests $24.32 Million in Chord Energy Co. (NASDAQ:CHRD)

International Assets Investment Management LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,628 shares of the company's stock, valued at approximately $24,320,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Chord Energy by 239.8% in 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 purchasing an additional 45,198 shares during the period. U S Global Investors Inc. bought a new stake in Chord Energy in the 4th quarter valued at $332,000. SevenBridge Financial Group LLC bought a new stake in Chord Energy in the 4th quarter valued at $382,000. Blue Trust Inc. boosted its stake in Chord Energy by 25.7% in the 4th quarter. Blue Trust Inc. now owns 1,144 shares of the company's stock valued at $185,000 after purchasing an additional 234 shares during the period. Finally, Viking Fund Management LLC boosted its stake in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company's stock valued at $58,000 after purchasing an additional 100 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the 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 transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of CHRD stock traded up $0.69 on Friday, hitting $175.98. 669,241 shares of the company's stock were exchanged, compared to its average volume of 607,636. 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 stock has a market cap of $7.31 billion, a P/E ratio of 7.48 and a beta of 1.07. Chord Energy Co. has a 12 month low of $133.61 and a 12 month high of $190.23. The company has a 50 day moving average of $174.36 and a 200 day moving average of $165.84.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.35% and a net margin of 26.27%. On average, equities research analysts predict that Chord Energy Co. will post 22.03 EPS for the current year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.39%. Chord Energy's dividend payout ratio (DPR) is currently 21.25%.

Analysts Set New Price Targets

Several analysts recently issued reports on CHRD shares. Truist Financial reduced their price target on Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Royal Bank of Canada upped their target price on Chord Energy from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Monday, April 29th. Stifel Nicolaus upped their target price on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. Piper Sandler upped their target price on Chord Energy from $219.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, Bank of America downgraded Chord Energy from a "buy" rating to an "underperform" rating and cut their target price for the company from $177.00 to $165.00 in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $193.50.

Chord Energy 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.