Knights of Columbus Asset Advisors LLC Grows Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Knights of Columbus Asset Advisors LLC lifted its stake in Chord Energy Co. (NASDAQ:CHRD) by 94.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,335 shares of the company’s stock after buying an additional 17,176 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Chord Energy were worth $5,874,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CHRD. Commonwealth Equity Services LLC increased its holdings in Chord Energy by 0.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after purchasing an additional 67 shares during the period. Fifth Third Bancorp increased its holdings in Chord Energy by 15.4% during the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after purchasing an additional 70 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Chord Energy by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock valued at $1,938,000 after purchasing an additional 70 shares during the period. Xponance Inc. increased its holdings in Chord Energy by 1.3% during the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock valued at $1,009,000 after purchasing an additional 77 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in Chord Energy by 48.9% during the 4th 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 period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CHRD shares. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and reduced their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. Mizuho boosted their price target on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Truist Financial reduced their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Piper Sandler lifted their price objective on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus lifted their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.40.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 0.9 %

Shares of CHRD traded up $1.64 during mid-day trading on Friday, reaching $180.29. The company had a trading volume of 205,263 shares, compared to its average volume of 670,180. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The firm has a 50-day moving average price of $170.08 and a 200 day moving average price of $164.39. Chord Energy Co. has a 52 week low of $133.34 and a 52 week high of $190.23. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.59 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The firm had revenue of $964.69 million for the quarter, compared to analysts’ expectations of $891.67 million. On average, sell-side analysts forecast that Chord Energy Co. will post 21.71 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a yield of 7.21%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

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.