Headlands Technologies LLC Reduces Position in Chord Energy Co. (NASDAQ:CHRD)

Headlands Technologies LLC lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,758 shares of the company’s stock after selling 209 shares during the quarter. Headlands Technologies LLC’s holdings in Chord Energy were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. lifted its stake in shares of Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after buying an additional 85 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares during the period. Viking Fund Management LLC boosted its holdings in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the period. Fifth Third Bancorp boosted its holdings in Chord Energy by 15.4% in the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after buying an additional 70 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Chord Energy in the 4th quarter worth $183,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHRD. Stifel Nicolaus upped their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Mizuho increased their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Truist Financial dropped their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Bank of America downgraded shares of Chord Energy from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $177.00 to $165.00 in a report on Friday, January 5th. Finally, Piper Sandler increased their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.50.

Insider Buying and Selling

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 directly owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $1.00 during mid-day trading on Friday, hitting $185.58. 437,929 shares of the company’s stock traded hands, compared to its average volume of 568,352. The company’s 50-day moving average is $172.98 and its two-hundred day moving average is $165.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The company has a market capitalization of $7.71 billion, a P/E ratio of 7.89 and a beta of 1.06. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share 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 analyst estimates of $891.67 million. On average, equities analysts anticipate that Chord Energy Co. will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a $3.25 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio is 21.25%.

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.