Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 532,144 shares of the company’s stock after purchasing an additional 40,407 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.28% of Chord Energy worth $94,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vest Financial LLC boosted its position in Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after purchasing an additional 20,995 shares during the period. Federated Hermes Inc. boosted its position in Chord Energy by 35.4% during the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $6,403,000 after acquiring an additional 10,075 shares during the period. Capital Fund Management S.A. boosted its position in Chord Energy by 252.9% during the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after acquiring an additional 31,484 shares during the period. LSV Asset Management acquired a new position in Chord Energy during the 4th quarter worth $16,549,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Chord Energy by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 497,088 shares of the company’s stock worth $82,631,000 after acquiring an additional 14,616 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America reiterated a “buy” rating and set a $201.00 price target on shares of Chord Energy in a research report on Friday, June 14th. Mizuho boosted their price target on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada boosted their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Piper Sandler boosted their price target on Chord Energy from $231.00 to $233.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, BMO Capital Markets initiated coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

Chord Energy Stock Up 0.7 %

Shares of Chord Energy stock opened at $170.89 on Wednesday. The stock’s fifty day moving average is $175.14 and its 200-day moving average is $169.16. The firm has a market capitalization of $7.12 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 12-month low of $145.06 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. Chord Energy’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.50 earnings per share. Equities analysts anticipate that Chord Energy Co. will post 22.27 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $2.94 per share. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

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.