Russell Investments Group Ltd. Sells 4,774 Shares of Chord Energy Co. (NASDAQ:CHRD)

Russell Investments Group Ltd. lessened its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,809 shares of the company's stock after selling 4,774 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Chord Energy worth $5,952,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CHRD. Commonwealth Equity Services LLC grew its position in Chord Energy by 0.6% during the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company's stock worth $1,985,000 after buying an additional 67 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Chord Energy by 15.4% in the third quarter. Fifth Third Bancorp now owns 526 shares of the company's stock worth $85,000 after buying an additional 70 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Chord Energy by 0.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company's stock worth $1,938,000 after purchasing an additional 70 shares in the last quarter. Xponance Inc. raised its position in Chord Energy by 1.3% in the 4th quarter. Xponance Inc. now owns 6,070 shares of the company's stock worth $1,009,000 after buying an additional 77 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised 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 last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 0.7 %

Chord Energy stock traded up $1.35 during trading on Thursday, hitting $181.57. The company had a trading volume of 517,291 shares, compared to its average volume of 665,365. Chord Energy Co. has a 1-year low of $137.78 and a 1-year high of $190.23. 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 company's 50 day simple moving average is $175.79 and its 200-day simple moving average is $166.13. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 7.72 and a beta of 1.07.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $771.87 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.50 earnings per share. As a group, analysts expect that Chord Energy Co. will post 22.03 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a $2.94 dividend. This represents a $11.76 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Tuesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 21.25%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research report on Friday, April 5th. Stifel Nicolaus upped their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. 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. 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. Finally, Mizuho boosted their target price on Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $193.50.

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.