Victory Capital Management Inc. Raises Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Victory Capital Management Inc. lifted its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 288,668 shares of the company's stock after acquiring an additional 9,934 shares during the quarter. Victory Capital Management Inc. owned 0.70% of Chord Energy worth $47,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Contravisory Investment Management Inc. grew its position in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company's stock worth $43,000 after buying an additional 85 shares during the period. Lindbrook Capital LLC raised its position in shares of Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company's stock worth $51,000 after purchasing an additional 123 shares during the last quarter. Viking Fund Management LLC increased its position in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company's stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp boosted its stake in Chord Energy by 15.4% during the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company's stock valued at $85,000 after purchasing an additional 70 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Chord Energy in the 4th quarter worth $183,000. 97.76% of the stock is owned by institutional investors.

Insider Activity at Chord Energy

In related 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 in the company, valued at $21,154,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CHRD. Mizuho lifted 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. Royal Bank of Canada increased their target price on shares of Chord Energy from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, April 29th. Piper Sandler increased their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Truist Financial reduced their price target 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, Stifel Nicolaus upped their target price on Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $193.50.

Chord Energy Stock Performance

CHRD traded up $2.35 during trading hours on Monday, hitting $178.33. 540,324 shares of the stock were exchanged, compared to its average volume of 662,770. 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 $7.41 billion, a price-to-earnings ratio of 7.58 and a beta of 1.07. Chord Energy Co. has a 12 month low of $137.78 and a 12 month high of $190.23. The stock has a 50-day simple moving average of $174.36 and a 200-day simple moving average of $165.81.

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

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 7.29%. 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. Chord Energy's dividend payout ratio is currently 21.25%.

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.