Westwood Holdings Group Inc. Sells 233 Shares of Chord Energy Co. (NASDAQ:CHRD)

Westwood Holdings Group Inc. cut its holdings in Chord Energy Co. (NASDAQ:CHRD) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,178 shares of the company’s stock after selling 233 shares during the period. Westwood Holdings Group Inc. owned approximately 0.33% of Chord Energy worth $23,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy in the 2nd quarter valued at about $4,426,000. Capital Fund Management S.A. increased its position in Chord Energy by 252.9% in the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after buying an additional 31,484 shares in the last quarter. Sei Investments Co. increased its position in Chord Energy by 24.0% in the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after buying an additional 27,903 shares in the last quarter. Quantbot Technologies LP bought a new stake in Chord Energy in the 1st quarter valued at about $884,000. Finally, BOKF NA increased its position in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after buying an additional 14,601 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $136.73 on Friday. Chord Energy Co. has a twelve month low of $129.75 and a twelve month high of $190.23. The stock’s 50 day moving average price is $152.80 and its 200-day moving average price is $167.18. The company has a market capitalization of $5.70 billion, a PE ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted $3.65 EPS. On average, equities analysts anticipate that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.66%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CHRD. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup cut their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial cut their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Piper Sandler cut their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America lifted their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.10.

About Chord Energy

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.