Northern Trust Corp Boosts Stake in Chord Energy Co. (NASDAQ:CHRD)

Northern Trust Corp boosted its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 474,203 shares of the company's stock after purchasing an additional 15,070 shares during the period. Northern Trust Corp owned approximately 0.78% of Chord Energy worth $55,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Delta Capital Management LLC boosted its holdings in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after acquiring an additional 90 shares during the period. Gables Capital Management Inc. boosted its stake in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after purchasing an additional 106 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after buying an additional 110 shares during the period. Finally, MGO One Seven LLC boosted its position in Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CHRD shares. Citigroup decreased their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Bank of America upgraded Chord Energy from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $125.00 to $114.00 in a report on Tuesday, April 29th. Piper Sandler cut their price target on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial increased their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.08.

Chord Energy Stock Down 0.5 %

Shares of CHRD stock opened at $90.14 on Thursday. The stock's fifty day moving average price is $99.07 and its 200 day moving average price is $113.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 4.64, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.10 earnings per share. On average, research analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is presently 32.62%.

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.

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