Citigroup Inc. reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD – Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,986 shares of the company’s stock after selling 7,987 shares during the quarter. Citigroup Inc.’s holdings in Chord Energy were worth $5,184,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes 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 lifted its stake 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 during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.
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 sale, the chief financial officer now owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 sale, the chief financial officer now owns 131,209 shares in the company, valued at approximately $20,225,867.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael H. Lou sold 6,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the completion of the sale, the chief financial officer now owns 170,835 shares in the company, valued at approximately $29,007,783. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,976,250 in the last 90 days. 0.52% of the stock is currently owned by company insiders.
Chord Energy Trading Up 1.1 %
Shares of CHRD stock opened at $165.95 on Friday. Chord Energy Co. has a 1 year low of $117.05 and a 1 year high of $175.20. The firm’s fifty day simple moving average is $158.30 and its 200 day simple moving average is $161.29. The firm has a market capitalization of $6.88 billion, a P/E ratio of 7.05 and a beta of 1.05. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08.
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. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. As a group, sell-side analysts predict that Chord Energy Co. will post 20.25 EPS for the current year.
Chord Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be issued a $3.25 dividend. This represents a $13.00 annualized dividend and a yield of 7.83%. The ex-dividend date of this dividend is Monday, March 4th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 21.25%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on CHRD shares. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their target price for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Piper Sandler lifted their price target on shares of Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Mizuho lifted their price target on shares of Chord Energy from $188.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Stifel Nicolaus lifted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Truist Financial lifted their price target on shares of Chord Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $190.30.
Check Out Our Latest Report on Chord Energy
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.
Further Reading
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Source: defenseworld.net
