LSV Asset Management Takes $16.55 Million Position in Chord Energy Co. (NASDAQ:CHRD)

LSV Asset Management bought a new position in shares of 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 firm bought 99,554 shares of the company's stock, valued at approximately $16,549,000. LSV Asset Management owned about 0.24% of Chord Energy at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Chord Energy by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company's stock worth $705,230,000 after purchasing an additional 21,034 shares during the period. FMR LLC boosted its stake in Chord Energy by 12.9% in the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company's stock worth $516,232,000 after purchasing an additional 364,673 shares during the period. Wellington Management Group LLP increased its holdings in Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company's stock worth $432,966,000 after purchasing an additional 26,896 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Chord Energy by 0.4% in the 3rd quarter. Jennison Associates LLC now owns 802,175 shares of the company's stock valued at $130,009,000 after purchasing an additional 2,837 shares during the period. Finally, Sourcerock Group LLC lifted its holdings in shares of Chord Energy by 1.1% in the third quarter. Sourcerock Group LLC now owns 612,943 shares of the company's stock valued at $99,340,000 after purchasing an additional 6,402 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHRD. Stifel Nicolaus increased their price objective on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. 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 report on Friday, April 5th. Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Piper Sandler boosted their price target on Chord Energy from $219.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada lifted their target price on Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.50.

Insider Buying and Selling at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $0.35 during midday trading on Tuesday, reaching $178.68. 723,595 shares of the company were exchanged, compared to its average volume of 663,459. Chord Energy Co. has a one year low of $137.78 and a one year high of $190.23. The stock has a market cap of $7.42 billion, a P/E ratio of 7.59 and a beta of 1.07. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The stock's 50-day moving average price is $175.04 and its 200-day moving average price is $165.92.

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, sell-side analysts anticipate that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently announced 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. This represents a $13.00 dividend on an annualized basis and a yield of 7.28%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy's payout ratio 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.