Anchor Capital Advisors LLC Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Anchor Capital Advisors LLC grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 55.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,710 shares of the company’s stock after buying an additional 5,262 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Chord Energy were worth $2,445,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Chord Energy by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after buying an additional 21,034 shares during the period. FMR LLC lifted its position in shares of Chord Energy by 12.9% during the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after purchasing an additional 364,673 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Chord Energy by 1.0% during the third quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after purchasing an additional 26,896 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Chord Energy by 0.4% during the third quarter. Jennison Associates LLC now owns 802,175 shares of the company’s stock worth $130,009,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Sourcerock Group LLC lifted its position in shares of Chord Energy by 1.1% during the third quarter. Sourcerock Group LLC now owns 612,943 shares of the company’s stock worth $99,340,000 after purchasing an additional 6,402 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $4.64 during trading hours on Tuesday, reaching $179.70. The company’s stock had a trading volume of 167,755 shares, compared to its average volume of 649,780. The company’s 50 day simple moving average is $173.39 and its 200 day simple moving average is $165.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy Co. has a one year low of $133.34 and a one year high of $190.23. The stock has a market cap of $7.46 billion, a P/E ratio of 7.83 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last posted its quarterly 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 company had revenue of $964.69 million for the quarter, compared to the consensus estimate of $891.67 million. As a group, analysts expect that Chord Energy Co. will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a $3.25 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

Insider Transactions at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following 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 this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho boosted their target price on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler boosted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Truist Financial reduced their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada increased their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.50.

Chord Energy Company 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.