Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 32.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 595,899 shares of the company's stock after selling 284,888 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.97% of Chord Energy worth $69,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock worth $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. boosted its stake in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after buying an additional 619,021 shares during the period. FMR LLC lifted its holdings in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Chord Energy in the 4th quarter valued at $43,745,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Chord Energy in the 4th quarter valued at about $29,984,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded down $1.64 on Monday, hitting $95.03. 554,050 shares of the company were exchanged, compared to its average volume of 982,979. The stock's 50 day moving average price is $97.84 and its 200 day moving average price is $111.26. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.49 billion, a P/E ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02.

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

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.47%. Chord Energy's dividend payout ratio (DPR) is 34.78%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHRD. Royal Bank of Canada lowered their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Bank of America upgraded shares of Chord Energy from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $125.00 to $114.00 in a report on Tuesday, April 29th. Wells Fargo & Company dropped their price objective on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Finally, Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.92.

About Chord Energy

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.