Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 50.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,189 shares of the company’s stock after selling 3,219 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Chord Energy were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. Kings Path Partners LLC purchased a new position in shares of Chord Energy in the 4th quarter worth about $117,000. Franklin Resources Inc. increased its position in Chord Energy by 72.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock worth $3,631,000 after purchasing an additional 11,527 shares in the last quarter. Synovus Financial Corp raised its holdings in Chord Energy by 14.9% in the third quarter. Synovus Financial Corp now owns 5,869 shares of the company’s stock valued at $764,000 after buying an additional 761 shares during the period. Sanctuary Advisors LLC lifted its position in Chord Energy by 21.0% during the third quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company’s stock valued at $691,000 after buying an additional 892 shares in the last quarter. Finally, TCW Group Inc. grew its stake in Chord Energy by 11.7% during the third quarter. TCW Group Inc. now owns 33,540 shares of the company’s stock worth $4,368,000 after buying an additional 3,500 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 1.6 %

Shares of NASDAQ:CHRD opened at $125.76 on Tuesday. Chord Energy Co. has a 12-month low of $109.59 and a 12-month high of $190.23. 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 cap of $7.69 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. The company has a fifty day simple moving average of $122.59 and a 200 day simple moving average of $138.94.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $5.04 EPS. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, equities research analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CHRD shares. BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research note on Friday, January 3rd. Morgan Stanley initiated coverage on Chord Energy in a research report on Friday. They set an “equal weight” rating and a $158.00 price target on the stock. Finally, Mizuho lowered their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.23.

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.