Valueworks LLC Has $20.54 Million Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Valueworks LLC reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 175,694 shares of the company’s stock after selling 22,391 shares during the period. Chord Energy accounts for approximately 6.8% of Valueworks LLC’s investment portfolio, making the stock its 2nd biggest holding. Valueworks LLC’s holdings in Chord Energy were worth $20,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in shares of Chord Energy by 3.7% during the third quarter. Barclays PLC now owns 64,711 shares of the company’s stock worth $8,427,000 after acquiring an additional 2,318 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Chord Energy by 5.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock valued at $657,000 after purchasing an additional 284 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in Chord Energy during the fourth quarter valued at $204,000. Merit Financial Group LLC purchased a new stake in Chord Energy during the fourth quarter valued at $553,000. Finally, Brooklyn Investment Group purchased a new stake in Chord Energy during the fourth quarter valued at $29,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

CHRD opened at $95.03 on Tuesday. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.49 billion, a PE ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.99. The firm has a 50 day moving average of $97.84 and a two-hundred day moving average of $111.26.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $5.10 EPS. Chord Energy’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date is Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Bank of America raised shares of Chord Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $125.00 to $114.00 in a research note on Tuesday, April 29th. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Finally, Piper Sandler dropped their target price on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $153.92.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now directly owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Chord Energy Company 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.