Deutsche Bank AG Sells 83,215 Shares of Chord Energy Co. (NASDAQ:CHRD)

Deutsche Bank AG lessened its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 44.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,104 shares of the company’s stock after selling 83,215 shares during the period. Deutsche Bank AG owned approximately 0.17% of Chord Energy worth $12,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EHP Funds Inc. bought a new stake in Chord Energy during the 4th quarter worth approximately $210,000. CoreCommodity Management LLC grew its stake in Chord Energy by 23.1% in the 4th quarter. CoreCommodity Management LLC now owns 14,481 shares of the company’s stock worth $1,693,000 after buying an additional 2,717 shares in the last quarter. Baird Financial Group Inc. grew its stake in Chord Energy by 4.3% in the 4th quarter. Baird Financial Group Inc. now owns 6,338 shares of the company’s stock worth $741,000 after buying an additional 259 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Chord Energy by 9.1% in the 4th quarter. Benjamin Edwards Inc. now owns 3,400 shares of the company’s stock worth $398,000 after buying an additional 283 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Chord Energy in the 4th quarter worth approximately $4,721,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 2.1%

Shares of CHRD opened at $95.88 on Friday. The stock has a market capitalization of $5.70 billion, a P/E ratio of 4.94, a PEG ratio of 5.83 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $98.20 and a two-hundred day simple moving average of $111.86. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.10 EPS. On average, research analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.42%. Chord Energy’s payout ratio is currently 34.78%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Royal Bank of Canada cut their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Mizuho cut their price objective on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $153.92.

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.