SG Americas Securities LLC Cuts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

SG Americas Securities LLC trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,707 shares of the company’s stock after selling 624 shares during the period. SG Americas Securities LLC’s holdings in Chord Energy were worth $317,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares during the period. Merit Financial Group LLC purchased a new position in Chord Energy during the fourth quarter worth about $553,000. Geode Capital Management LLC lifted its position in Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Foundry Partners LLC boosted its holdings in Chord Energy by 22.7% in the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares in the last quarter. Finally, Kore Advisors LP acquired a new position in Chord Energy during the 3rd quarter worth approximately $4,428,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $112.04 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business’s fifty day moving average price is $119.30 and its two-hundred day moving average price is $132.77. The stock has a market cap of $6.85 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. Chord Energy Co. has a one year low of $109.21 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $5.04 EPS. The business’s quarterly revenue was up 33.4% on a year-over-year basis. On average, analysts forecast that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.46%. Chord Energy’s payout ratio is currently 25.75%.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHRD. Truist Financial raised their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased their target price on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. UBS Group cut their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Morgan Stanley initiated coverage on shares of Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.08.

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.