Headlands Technologies LLC Sells 209 Shares of Chord Energy Co. (NASDAQ:CHRD)

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

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in Chord Energy by 0.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock worth $1,985,000 after acquiring an additional 67 shares during the period. Fifth Third Bancorp increased its stake in shares of Chord Energy by 15.4% in the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after purchasing an additional 70 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Chord Energy by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock valued at $1,938,000 after acquiring an additional 70 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Chord Energy by 1.3% during the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock valued at $1,009,000 after acquiring an additional 77 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its holdings 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 acquiring an additional 85 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Performance

Shares of CHRD stock traded up $1.00 during trading on Friday, hitting $185.58. The company’s stock had a trading volume of 437,929 shares, compared to its average volume of 568,352. The company has a market cap of $7.71 billion, a PE ratio of 7.89 and a beta of 1.06. 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 business has a fifty day moving average of $172.98 and a 200-day moving average of $165.46. Chord Energy Co. has a 52 week low of $133.34 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.21. The company had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, research analysts anticipate that Chord Energy Co. will post 22.03 earnings per share for the current 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 paid a $3.25 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a yield of 7.01%. Chord Energy’s dividend payout ratio is presently 21.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CHRD shares. Piper Sandler raised their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and cut their target price for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Mizuho lifted their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Truist Financial cut their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Stifel Nicolaus boosted their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.50.

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.