Citigroup Inc. lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD – Free Report) by 20.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,986 shares of the company’s stock after selling 7,987 shares during the quarter. Citigroup Inc. owned about 0.08% of Chord Energy worth $5,184,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in CHRD. FinTrust Capital Advisors LLC acquired a new stake in Chord Energy in the fourth quarter valued at approximately $28,000. Rockefeller Capital Management L.P. acquired a new stake in Chord Energy in the fourth quarter valued at approximately $48,000. PNC Financial Services Group Inc. acquired a new stake in Chord Energy in the fourth quarter valued at approximately $68,000. Pinebridge Investments L.P. acquired a new stake in Chord Energy in the second quarter valued at approximately $78,000. Finally, Fifth Third Bancorp raised its holdings in Chord Energy by 15.4% in the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.
Chord Energy Stock Performance
Shares of CHRD traded up $1.85 during mid-day trading on Friday, reaching $165.95. 2,575,206 shares of the company’s stock were exchanged, compared to its average volume of 675,349. 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 capitalization of $6.88 billion, a PE ratio of 7.05 and a beta of 1.05. The business’s fifty day simple moving average is $158.30 and its 200-day simple moving average is $161.31. Chord Energy Co. has a 52-week low of $117.05 and a 52-week high of $175.20.
Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. On average, equities research analysts expect that Chord Energy Co. will post 20.25 earnings per share for the current year.
Chord Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be paid a $3.25 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.83%. The ex-dividend date is Monday, March 4th. Chord Energy’s payout ratio is currently 21.25%.
Insider Buying and Selling at Chord Energy
In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $154.15, for a total value of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael H. Lou sold 6,000 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the transaction, the chief financial officer now directly owns 170,835 shares in the company, valued at $29,007,783. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $1,976,250. 0.52% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
CHRD has been the topic of several analyst reports. Piper Sandler raised their target price on shares of Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Truist Financial raised their price objective on shares of Chord Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $180.00 price objective on shares of Chord Energy in a report on Tuesday, November 21st. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Finally, Stifel Nicolaus raised their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.30.
Check Out Our Latest Stock Analysis on CHRD
About Chord Energy
Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.
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