Donald Smith & CO. Inc. Boosts Stake in Chord Energy Co. (NASDAQ:CHRD)

Donald Smith & CO. Inc. raised its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 386,938 shares of the company’s stock after buying an additional 3,015 shares during the quarter. Chord Energy makes up approximately 1.6% of Donald Smith & CO. Inc.’s portfolio, making the stock its 27th biggest holding. Donald Smith & CO. Inc.’s holdings in Chord Energy were worth $64,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vest Financial LLC increased its stake in shares of 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 acquiring an additional 20,995 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Chord Energy by 35.4% during the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $6,403,000 after purchasing an additional 10,075 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Chord Energy by 12.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after acquiring an additional 53,992 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Chord Energy by 68.5% in the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after purchasing an additional 15,632 shares in the last quarter. Finally, Monument Capital Management bought a new position in shares of Chord Energy during the fourth quarter worth about $2,035,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Royal Bank of Canada increased their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday. Piper Sandler upped their price target on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Mizuho raised their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.50.

Chord Energy Price Performance

NASDAQ CHRD traded down $1.24 on Monday, reaching $184.34. The company’s stock had a trading volume of 509,182 shares, compared to its average volume of 655,834. Chord Energy Co. has a 52 week low of $133.34 and a 52 week high of $190.23. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The firm has a market cap of $7.66 billion, a PE ratio of 7.85 and a beta of 1.06. The business has a 50-day moving average price of $172.98 and a 200 day moving average price of $165.49.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $891.67 million. Sell-side analysts expect that Chord Energy Co. will post 22.03 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.05%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s payout ratio is currently 21.25%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

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.