Bailard Inc. Sells 600 Shares of Chord Energy Co. (NASDAQ:CHRD)

Bailard Inc. trimmed its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the company’s stock after selling 600 shares during the quarter. Bailard Inc.’s holdings in Chord Energy were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its stake in shares of Chord Energy by 0.5% in the 3rd quarter. Copeland Capital Management LLC now owns 543,038 shares of the company’s stock valued at $88,010,000 after acquiring an additional 2,536 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Chord Energy by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after purchasing an additional 67 shares during the last quarter. Tectonic Advisors LLC raised its position in Chord Energy by 5.8% in the third quarter. Tectonic Advisors LLC now owns 7,465 shares of the company’s stock valued at $1,210,000 after purchasing an additional 406 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Chord Energy by 3.4% during the third quarter. Raymond James & Associates now owns 46,985 shares of the company’s stock valued at $7,615,000 after purchasing an additional 1,551 shares in the last quarter. Finally, Foster & Motley Inc. bought a new stake in shares of Chord Energy during the third quarter worth about $382,000. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho raised 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. Stifel Nicolaus raised their price target 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. Piper Sandler lifted their price target on shares of Chord Energy from $219.00 to $230.00 and gave the stock 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 decreased their price objective for the company from $177.00 to $165.00 in a report on Friday, January 5th. Finally, Truist Financial lowered their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $191.50.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares in the company, valued at approximately $20,225,867.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $185.58 on Friday. The company has a market capitalization of $7.71 billion, a PE ratio of 7.89 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a twelve month low of $133.34 and a twelve month high of $190.23. The firm has a fifty day simple moving average of $172.98 and a 200 day simple moving average of $165.48.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results 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. The firm had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. On average, sell-side analysts forecast that Chord Energy Co. will post 22.03 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a $3.25 dividend. This is an increase 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 was Monday, March 4th. Chord Energy’s payout ratio is presently 21.25%.

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.